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NO.  94-82080 


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Author: 


Mesefvey,  Atwood  Bond 


Title: 


Meservey's  book-keeping, 
single  entry 

Place: 

Boston 

Date: 

[1 882] 


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MASTER    NEGATIVE   * 


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Meservey's  book-keeping,  single  entry.  For  grammar 
schools.  [By]  A.  B.  Meservey  ...  Boston,  Thompson, 
Brown  &  CO.  ["^1882] 

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FOR     GRAMMAR     SCHOOLS. 


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.  :  :-.:I^.VBJ:MJE^KiiViEY;  Ph.D., 

PRINCIPAL  OP  THE  NEW  HAMPTON  LITKBABY  INSTITUTION,  NEW  HAMPTON,   N.H.; 
A^HOA  oFVoOk'-^-KEE^Wg,  isijIGMB -AND  DOUBLE  ENTRY. 


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BOSTON: 
PUBLISHED  BY  THOMPSON,  BROWN,  &   CO., 

23  Hawley  Street. 


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MESKKVEY\S   TEXT-BOOKS    IN    BOOK-KEEFING 

Mkskkvey's  Book-Kfj:im\<;,  SiNia.K  am»  Dotkiiv  Kxtky. 
For  ili.ijli  Schools  uiitl  Academies. 

BliANKS  TO   ACXJOMPANY    THK   SAME.       Rcveil  ill  set. 

Meskkvky's  Book-Kkkimng,  Sin(jlk  Entry. 

For  Grammar  Scliools. 
Blanks   ro  accomfvnv    rm-:  samk.     Six  in  set. 


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Copyright  1875, 1877, 1882,  by  A.  B.  Mksekvey  aiid  C.  I>.  Tiiyn«. 


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PREFACE. 


Formerly  only  those  who  expected  to  become  accountants  or 
merchants  considered  it  necessary  to  study  book-keeping;  but 
public  sentiment  in  this  respect,  for  several  years,  has  been  gradu- 
ally changing.  Now  it  is  generally  admitted  that  every  person 
should  be  able  to  record  properly  any  common  business  transac- 
tion. To  accomplish  this,  the  simpler  forms  of  book-keeping  must 
be  taught  in  the  grammar-schools,  to  meet  the  wants  of  those 
pupils  whose  school-days  are  limited. 

To  meet  the  demand  often  expressed  for  the  single-entry  part 
of  Meservey's  Book-keeping  as  a  text-book  in  the  grammar-school 
grade,  without  the  expense  of  the  double  entry,  more  especially 
adapted  for  high  schools  and  academies,  this  book  is  prepared. 
It  contains  a  full  treatment  of  single  entry. 

One  cause  for  want  of  success  in  teaching  book-keeping  in  the 
grammar-schools  has  l)een  the  want  of  a  proper  text-book.  It  is 
believed  that  this  little  work  will  be  found  to  meet  the  require- 
ments in  this  respect.  It  is  simple,  plain,  concise,  and  progres- 
sive ;  and  teachers  will  find  no  difficulty  in  explaining,  and  pupils 
no  trouble  in  understanding  it.  The  rules  are  few  and  simple, 
the  explanations  ample. 

The  question  and  answer  method  has  been  used  in  order  to 
ilhistrate  the  author's  method  of  teaching  the  subject.  It  is  not 
expected  that  pupils  will  be  confined  to  the  questions  and  answers 
111  the  text,  but  that  these  should  serve  as  models  for  numerous 
others  which  will  readily  suggest  themselves  to  the  teacher. 

Those  who  desire  to  obtain  a  more  extensive  knowledge  of 
book-keeping  are  referred  to  the  author's  larger  work. 
Nkw  Hampton,  May  10,  1882.  3 


TABLE  OF  CONTENTS. 


Preface 

Introduction  to  first  form 

First  form  . 

Example  I.      .        .        . 

Index  to  Ledger 

Ledger  of  first  form 

Example  II. 

Second  form  . 

Example  III. 

Index  to  Ledger     . 

Ledger  of  second  form 

Example  IV.  . 

Third  form 

Example  V.    . 

Day-book  of  third  form 

Questions  on  cash-book 

Cash-book  of  third  form 

Questions  on  the  Ledger 

Ledger  of  the  third  form 

Proof  of  the  posting 

Example  VI. 

Proof-sheet 

Fouitli  form 

Example  VII.  —Day-book 

Ledger  of  Example  VII. 

Example  VIII. 

Filth  form 

Example  IX 

Invoice-book  of  Example  IX. 

8ales-l)()ok 

Day-book 

Cash-book 


•  •  • 


Paob. 
3 
9 
13 
13 
16 
18 
26 
28 
29 
31 
32 
36 
38 
39 
41 
44 
46 
48 
49 
50 
52 
54 
54 
56 
63 
67 
69 
70 
70 
73 
76 
80 


6 


ABBREVIATIONS. 


Fauk. 

Ledger  of  Example  IX 82 

Proof-sheet      "         *' .        .        .  84 

Bill-book          "         " 86 

Example  X 88 

Proof-sheet  of  Example  X 80 

Balance  account    "         " 91 

Kotes,  drafts,  &c 92 

Forms 94 


ABBREVIATIONS. 


§,  at. 

%,  accowd. 
Acc't,  account. 
Am't,  amount. 
Bal.,  balance. 
Bbl.,  barrel. 
B.  B.,  hill-book. 

B.  R.,  billit  receivable. 
Bu.,  bunhel. 

ff  cents. 
Ch.,  choice. 
Ctu.,  cents. 

C.  B.,  canh'book. 
Co.,  company. 
Cr.,  creditor. 

J>.  B.,  day-book 


Boz.,  dozen. 
Dr.,  debtor. 
Dr.,  days. 
Ex.,  extra. 
Ft.,  feet. 
Oall.,  gallon. 
Gr.,  ground. 
Gran.,  granulated. 
Hhd.,  hogshead. 
I.  B.,  invoice-book. 
liiBi.,  pretient  month. 
Int.,  interest. 
Inv.,  inventory. 
L.,  ledger. 
hhB.f  pounds. 
Mdse.,  merchandiae. 


Mos.,  mouths. 
No.,  nMmi»«r. 
Oz.,  ounce. 
Fr9. ,  pairn. 
Per.,  6y. 
%,  per  cent. 
Pd.,  ^lairf. 
Qt.,  gnart. 
Rec'd,  received. 
S.  B.,  saleM-book. 
Super.,  superfine. 
t,  £7.  S.  currency. 
Vols.,  volume*. 
Yds.,  yards. 


'i 


V 


SINGLE    ENTET. 


BOOK-KEEPING. 


SIN^GLE    ENTRY. 


1.  What  is  book-keeping? 

Book-keeping  is  the  science  of  accounts,  and  the  art  of  record- 
ing business  transactions.  # 

2.  What  is  a  business  transaction  ? 

A  business  transaction  is  an  exchange  of  values. 

3.  How  many  parties  must  there  be  to  a  business  transaction? 
At  least  two,  a  debtor  and  a  creditor. 

4.  Who  is  the  debtor? 

The  debtor  is  the  person  who  receives  value. 

5.  Who  is  the  creditor? 

The  person  from  whom  value  is  received. 

6.  What  are  debits  and  credits? 

Debits  are  entries  against  debtors :  credits  are  entries  in  favor 
of  creditors. 

7.  What  is  an  account?  • 

An  account  is  the  record  of  one  or  several  business  transactions, 
arranged  under  some  title,  so  as  to  show  the  proper  debits  and 
credits. 

8.  How  many  methods  of  book-keeping  are  there? 
Two,  —  single  entry  and  double  entry. 

9.  What  is  the  distinction  between  the  two  methods? 

In  single  entry,  an  account  is  kept  with  only  one  party  to  tlie 
transaction,  either  the  debtor  or  creditor:  in  double  entry,  an 
account  is  kept  with  both  parties. 

9 


javu.iL.jiUfi; 


10 


BOOK-KEEnXG, 


10.  Which  method  should  be  learned  first? 

Single  entry ;  because  :t  is  more  simple,  in  more  general  use, 
and  more  practical  for  ordinary  purposes. 

11.  What  is  the  simplest  form  of  single  entry  book-keeping? 
That  in  which  the  ledger  only  is  used. 

12.  What  is  a  ledger? 

A  ledger  is  a  book  in  which  the  results  of  business  transactions 
are  classified  under  appropriate  titles,  and  the  debits  proi)erly 
separated  from  the  credits. 

13.  In  a  ledger  of  the  first  form,  how  many  pages  are  used  for 
an  account? 

Two. 

14.  What  are  placed  on  the  right-hand  page? 
Credit  entries. 

15.  What  are  placed  on  the  left-hand  page? 
Debit  entries. 

16.  What  is  the  first  horizontal  line  in  a  ledger? 
A  single  blue  line. 

17.  What  is  the  second  ? 
A  double  red  line. 

18.  What  are  all  the  other  horizontal  lines? 
Single  l)lue. 

19.  What  is  the  first  vertical  line? 
Single  red. 

20.  What  is  the  second  vertical  line? 
Single  red. 

21.  The  third? 
Double  red. 

22.  The  fourth? 
Single  red. 

23.  Wliere  should  the  number  of  the  page  be  written? 
At  the  upper  outside  corner. 

24.  How  far  from  the  top? 
Far  enough  to  look  well. 

25.  How  far  from  the  margin  ? 
As  far  as  from  the  top. 

26.  With  what  kind  of  ink? 
Black. 

27.  What  should  be  written  on  tlie  first  horizontal  line? 
The  name  of  the  account,  and  Dr. 


SINGLE  ENTRY. 


11 


28.  Where  should  each  be  written  ? 

The  name  of  the  account  should  be  written  in  the  centre,  Dr. 
over  the  debit  money  columns. 

29.  What  kind  of  ink  should  be  used  on  the  first  line?< 
Black. 

30.  Which  wa}'  do  spaces  extend? 
Across  the  page. 

31.  Which  way  do  columns  extend? 
Vertically. 

32.  What  should  be  written  in  the  first  column? 
The  year  and  month. 

^    33.    Where  should  thev  be  written? 

The  year  should  be  written  in  the  upper  half  of  the  first  space, 
the  month  in  the  lower  half. 

34.  When  should  either  be  written  again? 
When  it  changes. 

35.  What  should  be  written  in  the  second  column? 
The  day  of  the  month. 

36.  What  in  the  third  ? 

A  record  of  transactions  producing  debits. 

37.  What  in  the  fourth? 
Debit  dollars. 

38.  What  in  the  fifth? 
Debit  cents. 

39.  What  kind  of  ink  should  be  used  in  all  these  columns? 
Black,  except  for  closing  entries. 

40.  How  should  the  credit  side  of  the  ledger  be  ruled  ? 
Like  the  debit  side. 

41.  What  should  be  ^Titten  on  the  first  horizontal  line? 

The  name  of  the  account,  and  Cr.     The  name  should  be  centred^ 
and  Cr.  should  be  placed  over  the  credit  money  columns. 

42.  What  should  be  written  in  the  first  column? 
(See  answers  to  questions  32,  33,  34.) 

43.  What  in  the  second? 
(See  35  ) 

44.  What  in  the  third? 

Records  of  transactions  producing  credits. 

45.  What  in  the  fourth? 
Credit  dollars. 


BOOK-KEEPING. 


W 


i 


46.  What  in  the  fifth  ? 
Credit  cents. 

47.  What  kind  of  ink  should  be  used  on  the  credit  side  ? 
Black,  except  the  closing  entries. 

48.  When  should  black  ink  be  used  in  making  entries  ? 
When  the  entry  is  made  in  its  proper  place. 

49.  When  should  red  ink  be  used  ? 

When  the  entry  is  made  out  of  its  proper  place  ? 

50.  How  should  a  ledger  account  be  closed  ? 

Add  the  debit  money  columns  ;  add  the  credit  money  columns  ; 
take  the  less  amount  from  the  greater ;  place  the  difference  on  the 
smaller  side  with  red  ink  ;  draw  a  single  red  line  across  the  money, 
columns  ;  foot  the  mone}'  columns  ;  draw  a  double  red  line  across 
the  date  and  money  colums. 

51.  Why  should  the  difference  be  entered  on  the  smaller  side  ? 
In  order  to  balance  the  account. 

52.  Why  should  the  entry  be  made  with  red  ink  ? 
It  is  not  in  its  proper  place. 

53.  What  shall  be  done  with  the  red  ink  balance? 

It  should  be  written  below  the  balance  lines,  on  the  opijosite . 
side  of  the  account,  with  black  ink. 

54.  When  will  there  be  no  red  ink  entry? 
When  the  debit  and  credit  sides  are  equal. 

55.  When  will  the  footings  of  the  money  columns,   and  the 
single  red  Hues,  be  omitted  in  balancing  au  account? 

When  there  is  only  one  amount  on  eaeli  side. 

56.  By  whom  should  the  first  form  of  accounts  be  used? 

By  mechanics,  formers,  and  others  who  are  not  doino-  an  exten- 
sive business. 


8INGLE  ENTRY. 


13 


FIRST   FORM. 

The  following  is  a  record  of  part  of  the  business  transactions 
of  Lucius  S.  Gordon,  a  blacksmith  in  New  Hampton,  for  the  two 
months  commencing  Jan.  1,  1875,  arranged  in  the  order  of  their 

occurrence. 

Following  this  record,  is  a  ledger  of  the  first  form,  in  which 
all  the  transactions  are  arranged  under  their  proper  titles,  and  the 
debits  separated  from  the  credits.  The  student  should  provide 
himself  a  set  of  blanks,  a  good  rule,  black  ink,  red  ink,  black  ink 
pen,  red  ink  pen,  ruling  pen,  pencil,  rubber,  and  blotters. 

The  learner  should  carefully  observe  the  following :  — 

1.  Thoroughly  understand  every  transaction  before  making  th,. 

entry. 

2.  Spell  every  word  coiTCctly. 

3.  Write  every  word  neatly. 

4.  Make  every  figure  plainly. 

5.  Draw  every  line  properly. 

6.  Consult  the  form  whenever  there  may  be  uncertainty. 

EXAMPLE  I. 

RECORD    OF    BUSINESS   TRANSACTIONS. 

JoM.  1,  1875.  — Commenced  business  this  year  with  cash  on 
hand,  $67.42.  (Every  person,  however  limited  his  business, 
should  keep  a  cash  account,  in  order  that  he  may  have  an  accurate 
record  of  his  receipts  and  disbursements,  and  may  know  at  any 
time  the  amount  of  money  on  hand.  It  has  been  agreed  by  book- 
keepers, that  money  on  hand  and  money  received  shall  be  entered 
on  the  debit  side  of  cash  account ;  that  money  paid  out  shall  be 
entered  on  the  credit  side.  The  above  transaction,  therefore, 
should  be  entered  on  the  Dr.  side  of  cash  account.)  Shod  two 
horses  for  J.  S.  Piper,  with  new  shoes  all  round,  (a)  $1.75  each, 
which  we  have  charged  him  on  %.     (J.  S.  P.  Dr.) 

Jan,  4.  —Paid  Ward,  Humphrey, '&  Co.'s  bill  for  iron,  $47.18. 
(To  be  entered  on  the  Cr.  side  of  cash  %.)  J.  S.  Piper  has 
this  day  hauled  a  load  of  iron  and  coal  from  Bristol,  for  which  we 
credit  him  $2.00  on  account  (J.  S.  P.  Cr.) 


% 


14 


BOOK-KEEPING. 


Jan.  (■>.  —  Mended  sleigh  for  C.  D.  Thyng,  $2,31.  (C.  D.  T.  Dr.) 
Shoil  oxen  for  E.  C.  Lewis,  $3.00.  (E.  C.  L.  Dr.)  Shaqicned 
iron  bar  for  Hon.  Dana  Woodman,  $0.18.  Paid  cash  for  beef 
78J2J.     (Cash  Cr.) 

Jaw.  8.  — Bought  of  M.  H.  Merrow  on  %,  1  bag  meal,  $1.76; 
10  lbs.  granulated  sugar,  (a>  13^ ;  2  lbs.  raisins,  (a)  250 ;  1  gal. 
molasses,  670  ;  1  lb.  tea,  $1.25  ;  1  bar  soap,  30^.    (M.  H.  M.  Cr. ) 

Jan.  9.  Charged  Dana  Woodman  $3.00  for  mending  shafting 
for  mill,  and  28^  for  mending  chains.  Shod  horse  for  Wm.  Dver, 
$1.75.  Set  two  shoes  on  horse  of  M.  H.  Merrow,  300.  Paid  for 
coal  $6.91.  (Cash  Cr.)  Received  cash  for  work  this  week, 
$13.47.     (Cash  Dr.) 

Jan.  11.  —  Shod  two  horses  for  J.  D.  Moore,  /S)  $1.75  ;  mended 
sleigh,  $1.62;  made  4  staples,  (a)  10^,  which  we  liave  charged  to 
his  %,  Bought  1  bbl.  flour  of  M.  H.  Merrow,  $10.75 ;  10  lbs. 
lard,  (€b  140  ;  4J  lbs.  cheese,  (cb  20^.  (M.  H.  M.  Cr.)  Paid  him 
$14.00  cash.     (M.  H.  M.  Dr.,  and  Cash  Cr.) 

Jan.  14. — Hon.  Dana  Woodman  has  this  day  hauled  me  two 
bads  slab  wood,  (a)  Ihf  ;  and  I  have  shod  his  horse,  and  charged 
him  $1.75.     (D.  W.  Cr.  and  Dr.) 

Jan.  16.  —Bought  of  C.  D.  Thyng  on  %,  1  quart  oysters,  300  ; 
J  bush,  apples,  63^ ;  and  charged  him  for  shoeing  sled  $6.50. 
(C.  D.  T.  Cr.  and  Dr.)  Bought  of  Wm.  Dyer  on  %,  32  lbs.  old 
iron,  (€^  20.  (W.  D.  Cr.)  Received  cash  for  work  this  week, 
$8.42. 

Jan.  18.  — Hired  horse  and  sleigh  of  E.  C.  Lewis  to  go  to  Bris- 
tol, for  which  I  credit  him  $1.00.  Hon.  Dana  Woodman  has  this 
day  i>aid  cash  to  balance  his  %.  (This  should  be  entered  on  the 
Cr.  side  of  Dana  Woodman's  account,  and  on  the  Dr.  side  of 
cash  account.) 

Jan.  19.  —  Shod  horse  for  E.  C.  Lewis,  $1.75.  Made  for  M.  H. 
MeiTOW  2  large  bolts,  ®  750,  and  12  small  bolts,  (a>  8^.  Paid  tax, 
$13.50.     (CashCr.) 

Jan.  23.  —  Shod  2  yoke  oxen  for  J.  S.  Piper,  rS)  $3.00  ;  made  for 
him  also  1  sled  bridle,  $2.00 ;  bolted  yoke,  750.  Received  cash 
for  work  this  week,  $7.50. 

Jaw.  25.  —  Paid  cash  for  insurance,  $8.42.  J.  D.  Moore  has 
paid  cash  on  %,  $5.00.  Made  yoke  irons  for  J.  S.  Piper,  $1.75 ; 
and   he   has   hauled   me  2  cords  green  wood,  (a>  $4.00.      Fixed 


\ 

MS 

s 

f 


\ 


V 

I 


SINGLE  ENTRY. 


15 


iron   dogs   for   Dana   Woodman,    940.     Set   shoes  on  his   sled, 
$1.87. 

Jan.  26.  —  Set  one  shoe  on  horse  for  E.  C.  Lewis,  150.  Mended 
chain  for  him,  20^. 

Jaw.  28. — Bought  of  M.  H.  Merrow  on  %^  6  yds.  print,  (a) 
12^0;  2  yds.  doeskin,  (a)  $1.75;  14  lbs.  lard,  fa)  130;  ^  lbs. 
butter,  (a)  310;  1  lamp,  $1.75.  Set  2  shoes  on  ox,  200,  and 
mended  sleigh,  780,  for  E.  C.  Lewis.  He  has  paid  me  cash  on 
%,  $5.00. 

Jan.  30.  — Bought  of  E.  C.  Lewis  on  %,  2  cords  dry  wood,  (a> 
$5.00  per  cord.     Received  cash  for  work  this  week,  $9.72. 

Feb.  1.  —  Mended  staple,  250;  fixed  whippletree,  420;  mended 
chain-hook,  190,  for  Wm.  D3'er  on  %. 

Feb.  4.  —  Set  shoes  on  horse  for  J.  D.  Moore,  60^. 

Feb.  6. — Made  2  bolts  for  Dana  Woodman,  (a)  200.  Received 
cash  for  work  this  week,  $18.31. 

Feb.  8.  —  Charged  E.  C.  Lewis  for  work  as  follows:  shoeino- 
horse,  $3.00  ;  bolting  yoke,  370  ;  repairing  staple,  420. 

Feb.  11.  —  Bought  of  Dana  Woodman  on  %,  134  ft.  boards,  ® 
2p  per  foot.  Bought  of  M.  H.  Merrow  on  %,  1  box  salt  420 ; 
1  gal.  oil,  280. 

Feb.  13.  —  Made  pork-hook  for  M.  H.  Merrow,  25^.  Received 
cash  for  work  this  week,  $7.41. 

Feb.  15.  — Bought  of  J.  S.  Piper  on  %,  2  bu.  potatoes,  (a)  02p  ; 
1  bu.  turnips,  75^  ;  |  ton  hay,  $9.00 ;  paid  him  cash,  $6.00. 

Feb.  17.  —  Shod  horse  for  Dana  W^oodman,  $1.75. 

Feb.  19.  — Received  of  C.  D.  Thyng,  cash  to  balance  %,  $7.88. 

Feb.  20.  —  Set  shoes  on  horse  for  Wm.  Dyer,  600.  Received 
cash  for  work  this  week,  $14.06. 

Feb.  22. —Received  of  Wm.  Dyer  cash  on  %,  $2.00.  Paid 
New  Hampton  Institute,  cash  for  tuition,  $6.00. 

Feb.  25.  —  Made  1  set  hinges  for  Dana  Woodman,  750. 

Feb.  27.  —  Received  cash  for  work  this  week,  $9.63. 

The  several  accounts  are  now  to  be  closed  with  red  ink  balances, 
and  these  are  to  be  brought  down  on  the  opposite  side  with  black 
ink.  As  the  month  ends  Sunday,  the  ledger  may  be  closed  Satur- 
day, 27th,  and  the  black  ink  balances  should  be  dated  March  1. 

The  student  should  thoroughly  study  this  record,  trace  every 
transaction  to  its  proper  place,  and  then  correctly  post  it  to  ledger 
No.  1. 


limH!! <!■■ 


I 


16  BOOK-Kh:i:piNG. 


INDEX  TO   LEDGER. 

The  Index  to  the  ledger  is  usually  placed  in  a  long,  narrow  book  made  specially  for  th« 
purpose.  On  the  first  page  are  placed  all  tlie  names  in  the  ledger  conuuencing  wiih  A ; 
on  the  next,  all  those  beginning  with  B;  and  so  on :  but  we  aiTange  this  as  below  in  cu.ler 
to  save  space. 


NAMES. 


Paok.        Names. 


Faob. 


Cash, 


18 


H 


D 

Dyer,  William,                             24 

J 

■ 

K 

r 

L 

Lewis,  E.  C,                              22 

SINGLE  FSTRY. 


Names. 


Page.         Names. 


17 

Page 


Merrow,  M.  H., 
Moore,  J.  D., 


M 


24 
24 


Thyng,  C.  D., 


20 


N 


U 


Piper,  J.  S., 


20 


W 


Woodman,  Hon.  Dana, 


22 


8 


.,  At       y 


Mill 


18 


lit 


it 


BOOK-KEEPING. 


\yASH. 


Br. 


1875. 

Jail. 


(4 


(1 

Feb. 


a 


1 

9 
16 
18 
23 
25 
28 
30 

6 

« .» 

19 

20 

22 
27 


To  amount  on  hand, 
"  rec'd  for  work  this  week. 


1% 


a 


u 


a 


(( 


(( 


(( 


M 
U 


(( 


it 


u 


(( 


of  Hon.  Dana  Woodman  to  bal.  %, 

for  work  this  week, 
amount  rec'd  of  J.  I).  Moore  on  %, 
rec'd  of  E.  C.  Lewis  on  %, 

for  work  this  week, 


(( 


it 


<( 

i( 

(( 

i( 

(( 

<( 

u 

i( 

u 

u 

ii 


u 


u 


(I 


a 


u 


Mar. 


of  C.  D.  Thyng  to  balance  %, 
for  work  this  week, 
of  Wm.  Dyer  on  %, 
for  work  this  week, 


To  balance  brought  down, 


67 

42 

13 

47 

8 

42 

3 

71 

7 

50 

5 

00 

5 

00 

9 

72 

18 

31 

7 

41 

7 

88 

14 

06 

2 

00 

9 

63 

179 

53 

76      74 


57.   What  should  be  entered  on  the  debit  side  of  cash  %  ? 
The  amount  of  money  on  hand  at  commencing,  and  all  money 
afterward  received. 

68.    W^hat  should  be  entered  on  the  credit  side  of  cash  %  ? 

All  money  paid  out. 

59.  What  Is  the  first  step  in  closing  the  above  cash  %  ? 

Add  the  debit  amounts,  which  we  find  to  be  $179:53.  This  is 
the  total  amount  of  receipts  during  the  two  months. 

60.  Wliat  is  the  second  step? 

Add  the  credit  amounts,  which  we  find  to  be  $102.79.  This  is 
the  total  amount  of  disbursements. 

61.  What  is  the  third  step? 

Subtract  the  less  amount  from  the  greater,  and  enter  the  dift'er- 
ence  on  the  credit  side  with  red  ink.  The  difference  is  $70.74, 
which  is  the  amount  of  mone}'  on  hand. 

62.  What  is  the  difference  sometimes  called? 

It  is  called  a  balance,  because  it  serves  to  balance  the  %. 

63.  Why  is  it  entered  with  red  ink? 

Because  it  is  not  in  its  proper  place.  The  credit  side  of  cash 
%  was  made  for  money  paid  out,  and  this  balance  is  the  amount 
of  money  on  hand. 


m 

4)     |< 


1875. 


Jan. 

4 

(( 

^  i 

i( 

f  9  1 

u 

11 

il 

19 

(. 

25 

Feb. 

15 

I: 

22 

SINGLE  ENTRY. 


Cash. 


By  paid  Ward,  Humphrey,  &  Co.'s  bill, 
"       '     for  beef, 
for  coal, 

M.  H.  Merrow  on  %, 
paid  tax, 
"     for  insurance, 
J.  S.  Piper  on  %, 
for  tuition  to  New  Hampton  Inst., 


19 


Cr. 


u 
(( 
« 
(( 
(( 
u 


(( 


« 


u 


47 

18 
78 

6 

91 

14 

00 

13 

50 

.8 

42 

6 

00 

6 

00 

74 

179 

53 

i 

64.  Why,  then,  is  it  placed  on  the  credit  side? 

Because  we  wish  to  balance  the  %,  and  this  is  the  only  amount 
which  will  balance  it. 

65.  What  is  the  fourth  step? 

Draw  single  lines  under  the  figures  opposite  each  other  across 
the  money  columns. 

^^.    What  is  the  fifth  step? 
Foot  the  money  columns. 

67.  What  is  the  sixth  step? 

Draw  double  lines  across  the  date  and  money  columns. 

68.  What  is  the  seventh  step? 

Bring  down  the  red  ink  balance  on  the  opposite  side,  below  the 
balance  lines,  with  black  ink  to  indicate  that  it  is  in  its  proper 
place. 

69.  Will  this  %  now  stand  as  l)efore  it  was  balanced? 

It  is  the  same ;  for  we  have  credited  the  %  with  $76.74,  and  we 
have  also  debited  the  same  amount.  In  other  words,  we  have 
thrown  out  the  amount  of  the  credit  side  from  both  sides  of  the 
%,  and  made  each  $102.79  less  than  before;  leaving  $76.74  on 
the  debit  side,  which  is  the  amount  on  hand  at  the  beginning  of  the 
next  month. 


20 


i 


BOOK-KEEPING. 


J.  S.  Piper. 


Dr 


1875. 

Jan. 

t. 

u 
a 

Fob. 

1       To  shoeing  2  horses  @  11.75, 

23  «  "  2  yoke  oxen  @  13.00,  §6.00 
"  1  sled  brief! e,  2.00 
"   bolting  yoke,                                             .75 

25        "   yoke  irons, 

15        "   cash  on  %,                                                     : 

3 

8 

1 

i      6 

50 

75 
75 
00 

20 

99 

70.  What  are  accounts  with  persons  sometimes  called? 
Personal  accounts. 

71.  What  is  entered  on  the  debit  side  of  this  %  ? 
Our  account  against  him,  which  is  $20.00. 

72.  What  is  entered  on  the  credit  side? 
His  account  against  us,  which  is  $20.99. 

73.  What  is  the  difference? 

The  amount  we  owe  him,  which  is  990. 

74.  Where  should  this  be  entered? 

It  should  be  entered  as  a  balance  on  the  debit  side  with  red  ink. 


V/.     J-/.      X  IT  1  ^  vjr« 


Br 


6 
16 

To  mending  sleigh, 
"   shoeing  sled, 

2 

i 

31 
50 

8 

81 

78.   Why  is  this  account  closed  with  no  red  ink  entry? 
Because  he  paid  cash  to  balance  his  account,  which  was  entered 
in  the  proper  place  to  his  credit. 


SINGLE  ENTRY. 


J.  S.  Piper. 


21 


Or. 


18T5. 

Jan. 

4 

It 

25 

Feb. 

15 

H 

U 

By  hauling  iron  and  coal  from  Bristol, 
"   2  cords  green  wood  @  $4.00, 

2  bushels  potatoes  @  62  , 

1  bushel  turnips, 

I  ton  hay, 


i< 


« 


(( 


Mar. 


Balance  brought  down, 


2 

1 
00 

8 

00 

$1.24 

.75 

9.00 

10 

1 

99 

20 

99 

99 

75.  Why  on  the  debit  side? 
Because  it  is  the  smaller. 

76.  Why  with  red  ink? 

It  is  not  in  its  proper  place.  The  debit  side  of  the  %  was  made 
for  our  %  against  him,  and  this  red  ink  balance  is  what  we  owe 
him. 

77.  What  shall  now  be  done  with  the  red  ink  balance? 

^  It  should  be  brought  down  below  the  balance  lines,  on  the  credit 
side,  with  black  ink,  as  the  balance  of  his  %  against  us. 


C.    D.   Thyxg. 


1875. 

Jan. 

it 

Feb. 

16 

1 

1 

By  1  quart  oysters, 
^  bushel  apples, 
cash  to  balance  %, 


u 
it 


Or. 

.30 
.63 

7 

93 

88 

8 

81 

1 

79.   How  was  this  amount  ascertained? 

By  subtracting  the  sum  of  the  credits  from  the  sum  of  the  debits. 


BOOK-KEEPING, 


Edwin  C.  Lewis. 


Dr, 


1875. 

Jan. 

fi 

19 

26 

28 

Feb. 

8 

%  « 

8 

a 

8 

lo  shoeing  oxen, 

1      3 

00 

"  shoeing  horse, 

1 

75 

"  setting  slioe  on  horse. 

.15 

"   mentliiig  chain, 

.20 

35 

"  setting  two  shoes 

on  ox, 

.20 

"  mending  sleigh, 

.78 

98 

"   shoeing  horse, 

13.00 

"  bolting  yoke, 

.37 

"  repairing  staple, 

.42 

3 
16 

79 
00 

80.   What  does  a  red  ink  balance  on  the  debit  side  of  a  personal 
account  show? 
Our  indebtedness  to  tlie  person. 


Hon.  Dana  Woodman. 


Dr. 


1875. 

Jan. 

6 
9 

14 

To  sharpening  iron  bar, 

"  mending  shafting,                                   $3.00 
"  mending  chains,                                         .28 
"  shoeing  horse, 

To  fixing  iron  dogs,                                         .94 
"  setting  shoes  on  sled,                             $1.87 

"  2  bolts  (rt)  20^', 
"  shoeing  horse, 
"  1  set  hinges, 

To  balance  brought  down, 

18 

3        28 
1        75 

5        21 

Jan. 
Feb. 

25 

6 
17 

25 

1 

! 

2        81 
40 

1        75 
75 

5        71 

March 

1 

3       03 

81.   Why  was  this  account  balanced  Jan.  18? 
Because  he  paid   what  was   then  due,  and  the   account   was 
balanced. 


r 


1875. 

Jan. 

18 

(t 

28 

(< 

30 

1 

SINGLE  ENTRY. 


Edwin  C.  Lewis. 


By  liorse  and  sleigh  to  Bristol, 
"  cash  on  %, 
"  2  cords  wood  (dry),  @  $5.00, 


March      1       By  balance  brought  down, 


Hon.  Dana  Woodman. 


1 
5 

10 


23 


Cr. 


00 
00 
00 


16        00 
6        13 


Cr, 


1875. 

Jan. 

14 

18 

By  two  loads  wood  @  75^, 
"  cash  to  balance  %, 

By  134  feet  boards,  0  2f, 

1 

3 

50 
71 

5 

21 

Feb. 

11 

2 

68 

5 

71 

!l 

24 


1875. 

Jan. 

9 

n 

11 

n 

19 

it 

Feb. 

13 

BOOK-KEEPING. 


M.  H.  Merrow. 


82.  When  should  the  partial  amounts  be  short-extended? 
When  there  are  two  or  more  items  in  the  transaction. 

83.  What  is  meant  l)y  short-extended? 
Dropped  before  the  double  line. 

William  Dyer. 


1876. 

Jan. 

9 

To  shoeina;  horse, 

Feb. 

1 

"  niendini?  stable. 

<( 

"   fixinj;  whippletree, 

ti 

"  mendina:  chaui  hook, 

li 

20 

"  setting  shoes  on  horse, 

Br. 


To  setting  2  shoes  on  horse, 

30 

*'  cash  on  %, 

14 

00 

*'  making  2  large  bolts,  @  75^, 

fl.50 

"  making  12  small  bolts,  @,  8,«^, 

.96 

2 

46 

*'  pork  hook, 

25 

i 

• 

' 

m 

. 

29 

1 

37 

Br 


to 


jjiar. 


To  balance  brought  dowii, 


2.5 

42 

19 

m 

GO 

3 

21 

57 

^ 


SINGLE  ENTRY. 


M.  H.  Merrow. 


1876. 

Jan. 

8 

(( 

i< 

u 

u 

it 

11 

« 

28 

tt 

t( 

(1 

Feb. 

11 

By 

n 
n 
a 
(( 

(( 

n 

n 

i( 
(< 
(( 


1  bag  meal, 

10  lbs.  gran,  sugar,  @  ISf, 

2  lbs.  raisins,  (^  25J^, 
1  gal.  molasses, 

1  lb.  tea, 
1  bar  soap, 

1  bbl.  flour, 

10  lbs.  lard,  @  Uf, 
4i  lbs.  cheese,  @  20/' 
6  yds.  print,  @  121^', 

2  yds.  doeskin,  @  $1.75, 
14  lbs.  lard,  @  13,<^, 

Oi  lbs.  butter,  @  31;^, 
1  lamp, 
1  box  salt, 
1  gal.  oil, 


Mar.         1    i   By  balance  brought  down. 


84.   What  is  meant  b}'  fall-extended? 
Carrying  the  footing  into  the  money  columns. 


25 


Cr. 


William  Dyer. 

Cr. 

1875. 

Jan. 
Feb. 

16 
22 

By  32  lbs.  old  iron,  @  2<^, 
*'  cash  on  %, 

By  balance, 

2 

64 

00 

3 

r 
21 

1 

;                  1 

1875. 
Jan. 

Feb. 


March 


11 


Joseph  D.  Moore. 


To  shoeing  2  liorses,  @  $1.75, 
"  mending  sleigh, 
'*  raaking"4  staples,  @  lO*', 

setting  shoes  on  horse, 


(( 


To  balance  brouglit  down. 


Br 


$3.50 

1.62 

.40 

5 

52 
CO 

6 

12 

1 

12 

Joseph  D.  Moore. 


1875. 

Jan.        25      By  cash  on  %, 


Cn 


\ 

1 

5 

00 

6 

1 

12 

26 


BOOK-KKEP/NG. 


J:!iJvA.J\li  Lihj    II. 


Record  of  some  of  the  business  transactions  of  J.  S.  Granger, 
a  farmer,  for  January  and  February,  187o. 

Jan.  1,  1875.  — Cash  on  hand  this  day,  $31.17.  (This  should 
be  entered  on  the  debit  side  of  cash  %.) 

Bought  of  James  Graham  on  %,  1  bbl.  flour,  $9.75;  42  lbs. 
granulated  sugar,  ^  13^ ;  2  lbs.  raisins,  fa)  2Gp ;  1  lb.  tea,  $1.37 ; 
8  lbs.  coffee,  (a)  Up.  (J.  G.  Cr.)  Paid  cash  for  tax,  $19.00. 
(Cash  Cr.) 

Jan.  4.  — Sold  Galon  Keene  on  %,  2  cords  dry  wood,  fa)  $4.75  ; 
and  1  cord  green  wood,  $4.12.     (G.  K.  Dr.) 

Jan.  6.  —  Sold  four-year-old  colt  for  $162.     (Cash  Dr.) 

Jan.  d.— Bought  of  George  Allen  on  %,  1  pr.  men's  thick 
boots,  $6.75  ;  2  prs.  boy's  boots,  fa)  5.25.      (G.  A.  Cr.) 

Jan.  11.— Paid  James  Graham  cash  on  %,  $15.00.  (J.  G. 
Dr.  and  Cash  Cr.)  John  H.  Eastman  shod  our  horse,  and  charged 
us  on  %,  $1.75,  and  mended  chain,  31^.  (J.  H.  E.  Cr.)  We 
have  sold  him  1  bbl.  apples,  $3.50  ;  4  bu.  potatoes,  fa)  bGp  ;  16  lbs. 
butter,  fa)  300.     (J.  H.  E.  Dr.) 

Jan.  14.  —Bought  of  Charles  H.  Fogg  on  %,  12  yds.  Merrimac 
print,  fa)  12|^;  17  yds.  bleached  sheeting,  fa)  lop  ;  4  yds.  flannel, 
fa)  500.  Sold  him  1  ton  hay,  $18.00;  J  bu.  beans,  $1.00.  (C. 
H.  F.  Cr.  and  Dr.) 

Jan.  18.  — Sold  James  Graham  on  %,  1  cheese,  28  lbs.,  To) 
21^ ;  14  bu.  potatoes,  fB  4bp ;  2  bbls.  apples,  fa)  $3.50 ;  6  cab- 
bages, fa)  UP ;  and  bought  of  him  10  gals,  molasses,  fa)  Q2P ;  1 
box  salt,  420 ;  i  gross  matches,  400 ;  J  lb.  nutmegs,  450 ;  j  lb. 
gr.  pepper,  12^.     (J.  G.  Dr.  and  Cr.) 

Jan.  20.  —  John  H,  Eastman  has  ironed  sled,  and  charged  us  on 
%$7.42.     (J.  H.  E.  Cr.) 

Paid  cash  for  ''  Mirror  and  Farmer"  one  year,  $1.00. 

Jan.  23.  —  Bought  of  Charles  H.  Fogg  3  yds.  doeskin,  fa)  $1.75  ; 
trimmings  for  pants,  $1.10;  1  pr.  gloves,  75^;  1  horse-blanket, 
#4.25. 

Jan.  25. -Paid  George  Allen  cash  to  balance  %,  $17.25. 
(G.  A.  Dr.  and  Cash  Cr.)  Galon  Keene  hired  horse  and  sleigh 
of  us  to  go  to  Belfast,  for  which  we  charge  him  $3.00  on  %. 


.. 


4 


i 


SINGLE   ENTRY. 


27 


Jan.  28.  —  Bought  of  Amos  C.  Brooks,  on  %,  1  cooking-stove, 
$35.50.  Sold  him  4  cords  green  wood,  ^  $4.00  ;  1  cord  dry  wood, 
$5.00. 

Jan.  30. — Credited  John  Adams  for  one  month's  work,  $30. 
Sold  him  on  %,  1  ham,  20  lbs.,  fa)  VI^p  ;  3  doz.  eggs,  fa)  25p  ;  1 
bbl.  apples,  $4.25;  1  bu.  corn,  92^;  1  bu.  rye,  $1.10;  and  paid 
him  cash  to  balance,  $20.48. 

Feb.  1.  — Bought  of  Webster  Moody  on  %,  500  ft.  hemlock 
boards,  fa)  2^p  per  ft.  ;  2  thousand  No.  1  shingles,  fa)  $3.00 ;  425 
ft.  pine  boards,  r'o)  3p  per  ft.  Sold  him  one  ton  hay,  $18.00  ;  20 
bu.  oats,  (a)  700. 

Feb.  4.  —  Galon  Keene  has  made  for  me  1  bookcase  valued  at 
$20.75,  wliich  I  credit  him  on  %.  Bought  of  George  Allen  on 
%,  2  pr.  children's  rubber  boots,  fa)  $1.75;  1  pr.  kid  slippers, 
$2.25.     Sold  for  cash  30  bu.  potatoes,  la)  450. 

Feb.  6.  — John  H.  Eastman  has  shod  our  oxen,  and  charged  us 
on  %  $3.00.  Bought  of  Charles  H.  Fogg,  18  yds.  alpaca,  fa)  Ihp  ; 
6  yds.  cambric,  fa)  12|0  ;  1  doz.  buttons,  500  ;  1  spool  machine 
silk,  250. 

Feb.  8. — Bought  of  Amos  C.  Brooks,  1  bird-cage,  $2.25;  1 
coffee-pot,  $1.00.  Galon  Keene  hired  oxen  of  me  for  hauling 
lumber,  for  which  we  charge  him  on  %  $2.00. 

Feb.  10.  — Sold  for  cash,  1  heifer  for  $30.00.  Paid  Dr.  Samu^ 
Johnson,  cash,  $10.75,  for  medical  attendance. 

Feb.  13.  —  Let  John  Adams  have  on  % ,  1  cord  dry  wood,  $4. 7.>  ; 
2  bu.  potatoes,  (a)  620;  \  bu.  beans,  $1.00;  6  lbs.  pork,  fa)  18p 
Galon  Keene  has  repaired  two  tables,  and  charged  us  on  'J^,  $1.75. 
Charged  Webster  Moody  $2.00  for  use  of  oxen. 

Feb.  15. — Sold  James  Graham  on  %,  10  lbs.  dried  apple,  fa) 
120 ;  30  lbs.  butter,  fa)  300 ;  10  doz.  eggs,  (a)  2bp.  Bought  of 
him  I  lb.  castile  soap,  120;  1  bu.  sa'it,  900;  10  lbs.  codfish,  (a) 
80  ;  5  gals,  kerosene  oil,  ^400. 

Feb.  16.  —  Gave  John  Adams  order  on  James  Graham  for  1  bbl. 
flour,  $10.25.     (J.  A.  Dr.  and  J.  G.  Cr.) 

Feb.  18. — John  H.  Eastman  has  set  shoes  on  horse  for  us, 
60^ ;  also  mended  chain,  200,  and  shovel  Ibp^  for  which  he  has 
charged  us  on  %. 

Feb.  19.  —Paid  cash  for  seed,  $5.95.  Sold  Charles  H.  Fogg  J 
cord  pine  wood,  $1.00,  and  paid  him  $10.50  cash  on  %.     Bought 


28 


BOOK-KEEPING. 


SINGLE   ENTRY. 


29 


I 


11 


Of  him  12  yds.  denim,  fa)  28^.     Galon  Keene  hired  our  horse  to  go 
to  Camden,  for  which  we  charge  him  $3,00  on  %. 

Feb.  20.  —  Let  John  Adams  have  on  %,  10  lbs.  lard,  (a)  22p  ;  5 
lbs.  dried  apple,  ^  10^ ;  1  bu.  corn,  d2p, 

Feb.  22.  — Bought  of  George  Allen  on  %,  1  pr.  ladies'  boots, 
13.25  ;  1  pr.  rubber  overshoes,  75^. 

Feb.  23.— Bouglit  of  Webster  Moody  on  %,  134  ft.  boards,  fa) 
%f  per  ft.,  and  1,500  laths,  $2.50.  Galon  Keene  lias  made  me  GO 
sap-buckets,  m  40^,  for  which  he  has  charged  me  on  %, 

Feb.  25.— Bought  of  Amos  C.  Brooks  2  sap-pans,  (^  $5.00, 
and  paid  him  cash  on  %,  $10.50.  Bought  of  James  Graham  1  lb. 
tea,  $1.37 ;  20  lbs.  wrought-iron  nails,  ®  3^ ;  2  gals,  linseed  oil, 
(a)  $1.00  ;  5  lbs.  raisins,  (a)  25^  ;  10  lbs.  rice,  (cb  10^. 

Feb.  27.  —  Credited  John  Adams  for  one  month's  work,  $30.00. 
Paid  him  cash  to  bal.  %,  $8.06.  Sold  George  Allen  on  %,  1  ton 
hay,  $18.00.     Sold  Webster  Moody  9  bu.  potatoes,  (a>  60^  on  %. 

This  record  should  be  written  out  in  a  manner  similar  to  the 
first  example.  If  correctly  entered  in  tlie  ledger,  there  will  be  a 
cash  account,  and  eight  personal  accounts.  J.  S.  Granger  will 
have  $118.18  cash  on  hand  ;  he  will  owe  James  Graham  72^,  Galon 
Keene,  $24.88,  J.  H.  Eastman  $2.81»,  Charles  II.  Focnr  S5  2G 
Amos  C.  Brooks  $17.25.  George  Allen  will  owe  him  $8.25, 
Webster  Moody  $2.97,  and  John  Adams's  %  will  balance. 


SECOND    FORM. 

85.  In  the  second  form  of  accounts,  how  many  books  are  used' 
The  ledger  onl^-. 

86.  How  many  pages  are  used  for  an  account? 
One. 

87.  What  three  things  are  written  on  the  tirst  blue  line? 
The  name  of  the  account.  Dr.,  and  Cr. 

88.  Where  should  Dr.  ]>e  written? 
Over  the  first,  or  debit  money  columns. 

89.  Where  should  Cr.  be  written? 

Over  the  second,  or  credit  mone}'  columns. 

90.  How  shouhl  the  date  be  written  ? 
As  in  the  first  form. 


i>i« 


L 
l\ 


91     What  should  be  written  in  the  third  column? 
Tlie  debit  and  credit  items  in  the  order  of  their  occurrence 
Each  debit  entry  should  commence  with  -  To,"  and  each  credit 

entry  with  ''By."  i  5 

i)2.   What  should  be  written  in  the  first  set  of  money  columns." 

Debit  amounts. 

93.  What  in  the  second? 

Credit  amounts. 

94.  What  kind  of  ink  should  be  used  in  a  ledger  of  the  second 

form?  ,      , -,  1        A 

Black,  except  the  closing  entries,  which  should  be  red. 

EXAMPLE    in. 

Record  of  some  of  the  business  transactions  of  William  S. 
Conant,  who  keeps  a  grocery  store  in  a  country  village. 

March  1,  1875.  —  William  S.  Conant  has  cash  on  hand  amount- 

intr  to  $3,000.     (Cash  Dr.) 

\arcU  2.  -Bought  of  Marshall  Wiley  for  cash  h.s  -t.re  stoclr 
of  groceries  and  provisions,  for  which  we  have  paid  h.m  $2,834,16. 
We  have  also  rented  his  store,  and  paid  him  for  rent  one  month  m 
advance,  811.00.     Paid  for  sundry  expenses,  813.84. 

March  3.  -Sold  John  F.  Fuller  on  %,  1  bbl.  flour,  $11.2o  ,  1 
bu  meal  96^  ;  4  gals,  molasses,  <®  75)«.  Received  for  cash  sales 
this  day,  $14.21.  (The  money  received  for  sales  during  the  day  .8 
pled  ii.  the  money  drawer :  at  night  it  is  counted,  and  the  whole 
amount  entered  on  tlie  debit  side  of  cash  %.     See  131.) 

.Varcft  4.  -  Sold  John  Baldwin  on  %,  14  lbs.  gi-an.  sugar,  ® 
m  ;  G  lbs.  raisins,  <a>  23^  ;  8  lbs.  pork^  W  Sold  James  1. 
Haines  on  %,  i  bu.  apples,  ®  $1.20 ;  2  bu.  potatoes,  <2)  63^.  Re- 
ceived  cash  for  sales  this  day,  89.00. 

March  5.  -Sold  Samuel  G.  Oakes  on  %,  1  gal.  vinegar,  42^ ,  1 
bbl.  apples,  $4.25 ;  100  lbs.  codfish,  ®  7^  Bought  of  -niomas 
K  Peavey  on  %,  21  bu.  oats,  ®  720 ;  61  lbs.  butter,  ®  30^ , 
62  lbs.  dried  apple,  ®  9>*.  Paid  him  cash  on  %,  $20.00.  Re- 
ceived cash  for  sales  this  day,  $14.00. 

March  6.  -Sold  Mrs.  H.  M.  Demons  on  %,  1  bbl.  flour,  $9,76 , 
18  lbs.  lard,  ®  14^ ;  i  bu.  rye  meal,  50P.  Received  cash  foi 
sales  this  day,  $21.50. 


mmm 


50 


BOOK-KEEPING, 


SINGLE  ENTRY. 


31 


March  8.^ Sold  John  F.  Fuller  on  %,  2  doz.  eggs,  ®  25^;  8 
bs  cheese,  fa>  m  ;  l  box  salt.  42^  ;  8  lbs.  cooking  sugar,  (a)  W  ' 
1  lb  tea,  $1.75  ;  2  lbs.  soda,  ®  8^.     Received  for  sales  this  day,' 
•1  /  .00.  •' 

March  9. -Sold  James  Y.  Haines  on  %,  6  lbs.  butter,  ®  35>!- 
i  busl^  onions,  ®  81.50;  4  cabbages,  fa,  Uft ;  3  lbs.  honey,  « 
30*;.     Received  cash  this  day  for  sales,  $13.50. 

M.rcA10.-Sold  Mrs.  H.  M.  Demons  on  %,  i  bu.  beans, 
«1.00;  i  bu.  peas,  50^;  1  qt.  oysters,  50^;  and  she  has  paid 
cash  t'jbalance  her  %. 

March  11.  —  Paid  cash  for  insurance,  $28.00.  Boun-ht  of  Jolm 
Baldwin  on  %  1  pr.  boots  for  self,  $9.00,  and  two  pr.  for  bovs,  ® 
$5.2o.  Sold  him  i  lb.  gr.  pepper,  12^ ;  J  lb.  allspice,  W;  i 
cmnamon,  20;! ;  i  cloves,  25)».  Received  cash  for  sales  this  day! 
$24.00. 

March  12.  —Received  cash  for  sales  this  day,  $21.00 

ftQ^"''Vi;:;.^''"^''^  «^  Samuel  G.  Oakes  on  %  |  ton  hay, 
$J.OO  Sold  Thomas  K.  Feavey  on  %  1  gal.  sirup,  $1.12.  Re- 
ceived  for  sales  this  day,  $18.00. 

March  15.^  Sold  John  F.  Fuller  on,  %  3  lbs.  coffee,  ®  46^  •  4 
doz.  eggs,  fa)  25^ ;  8  lbs.  maple  sugar,  fa)  20.  He  has  made  for 
us  one  suit  of  clothes,  and  charged  us  on  %,  $37.00.  Cash  for 
the  day's  sales,  $19.00. 

March  16.  —  Cash  received  for  sales  this  day,  $17.50. 

Mawh  17.  -Sold  James  Y.  Haines  on  %,  1  chicken,  4  lbs.  fa) 
W  ;  2  lbs.  Turkey  prunes,  fa)  15^ ;  2  gals,  kerosene  oil,  fa)  40^ ; 
10  lbs.  oatmeal,  fa)  60,  Paid  cash  for  freight,  $7.95.  Cash  re- 
ceived for  sales  this  day,  $21.00. 

March  18.  -  Sold  John  Baldwin  on  %,  30  lbs.  lard,  fa)  18^  ;  4 
bu.  cracked  corn,  37^;  1  box  Smyrna  figs,  50^.  Sold  San.uel 
l^.  Uakes  on  %  30  lbs.  gran,  sugar,  fa)  WP.  Received  cash  foi 
sales  this  day,  $26.00. 

Mirch  19.  —Received  cash  for  sales,  $29.00. 

Jfarc/.  20. --Sold  Thomas  K.  Peavey  on  %,  10  lbs.  rice,  fa) 
W ;  2  oz.  indigo,  fa)  UP  ;  l  lb.  borax,  32^.  Sold  Mrs.  H.  M. 
Demons  1  paper  silver  gloss  starch,  20^ ;  1  box  yeast  powder, 
^of  ;  1  package  sea  moss  tarine,  25^.  Paid  cash  for  school-books 
ior  boy,  $3.9o.     Received  cash  for  sales  this  day,  $30.00. 

March  23.  —Sold  James  Y.  Haines  on  %  4  lbs.  chees^,  (a)  18p ; 


( 


% 


I 


15  lbs.  coffee  sugar,  ^  12^;  1  lb.  cream  tartar,  60p ;  1  lb.  soda, 
10^.     Received  cash  for  sales  this  day,  $19.00. 

March  24.  — Sold  Mrs.  H.  M.  Demons  on  %,  2  lbs.  chocolate, 
^  37|0 ;  1  lb.  cocoa,  37^.  Received  cash  for  sales  this  day, 
$23.50. 

March  27. —Sold  Samuel  G.  Oakes  on  %,  1  bu.  herds-grass 
seed,  $4.00;  20  lbs.  clover  seed,  ^15^;  1  bu.  red-top,  $5.00; 
1  cask  Rockland  lime,  $1.50.  Bought  of  him  on  %  2  cords  dry 
wood,  fa)  $5.00.     Received  cash  for  sales  this  day,  $25.50- 

March  29.  —  Sold  John  F.  Fuller  on  %,  1  gal.  gherkin^75^  ; 
^  lb.  nutmegs,  42^.     Received  cash  for  sales  this  day,  $24.^1 

March  30.  —  James  Y.  Haines  has  paid  cash  to  balance  his  %, 
$12.08.     Cash  received  for  sales  this  day,  $28.00. 

March  31.  — Sold  Thomas  K.  Peavey  on  %,  1  bbl.  crackers, 
$4.50.  Paid  for  sundry  expenses,  $19.23.  Received  cash  for 
sales  this  day,  $18.50. 


INDEX   TO   LEDGER. 


■ 

NAMES. 

PAGES 

■ 

Bjiklwiii,  Jolin 

33 

■ 

Cash 

32 

■ 

Demons,  Mrs.  H.  M. 

34 

i 

Fuller,  Jolm  F.      . 

33 

Haines,  James  Y.  . 

34 

- 

Oakes,  Samuel  G.  . 

35 

ft 

Peavey,  Thomas  K. 

:,:" 

35 

iiSiiiP!^ 


'^ 


S2 


1875. 
Mai. 


I( 
«( 
tf 
•  I 

■  < 
l( 

■  I 


Mr. 


Apr. 


3 
4 

5 


I 

1 
«  ii 

Mar. 

8 

9 

10 

11 

12 

■ 

13 

Mar.       15 


16 
17 

18 
19 
20 


Miir. 

22 

«4 

23 

a 

24 

a 

27 

Mj^' 

Mar. 

29 

It 
ti 

30 

i< 

31 

BOOK-KEEPING, 


Cash. 


To  amount  on  hand, 

By  paid  Marshall  Wiley  for  stock  goods, 

"     "     rent  of  store  for  one  month, 

"     "     for  sundry  expenses, 
To  rec'd  for  cash  sales  this  day, 

By  paid  Tliomas  K.  Peavey  on  '^, 
To  r»c'd  for  sales  this  day, 

«(      «      <(      i«       "      ** 


To  balance  from  last  week, 
"  rec'd  for  sales  this  day, 

«  <«  tl  11  i*  '* 

"     "    of  Mrs.  H.  M.  Demons  to  baL  %, 
By  paid  for  insurance, 
To  rec'd  for  sales  this  day, 


It 


it 

'1,. 


To  balance  from  last  week, 
"  rec'd  for  sales  this  day, 


t( 
ti 


It 
ii 


II 

i. 


Ii 
II 


By  paid  for  freight. 

To  rec'd  for  sales  this  day, 


ti 


Ii  ii 


By  paid  for  school-books, 
To  i«c'd  for  sales  this  day, 


To  balance  from  last  week, 
"  rec'd  for  sales  this  day, 

il  ti  Ii  •'  >•  " 

11  II  ii  Ii  •'  •• 


To  balance  from  law  wertE. 

•'  rec'd  for  sales  tliis  day, 
.1      it      t(      it       it      it 

•'  rec'd  of  James  Y.  Haines  to  bal.  %» 
By  paid  for  sundry  expenses, 
To  rec'd  for  sales  this  day, 


To  balance  from  last  month, 


Dr. 


Cr. 


aoooi 


28.34 

16 

11 

00 

13 

84 

14 

21 

9 

00 

20 

00 

14 

211 

50 

3058 

71 

3058 

! 

71 

179 

71 

17 

13 

50 

14 

77 

28 

00 

24 

00 

21 

00 

18 

00 

'■  'i' i„ 

WI 


209 

19 


98 
00 

17,    50 

21 


26 
29 

m 


402 


48 


390  58 
19  ! 

23  I  50 

25  50 


4S8 


I  --  -t 


Ml 


287      98 


95 

3      95 

402      48 


18' 


458  58         458  '    58 

il---    • 

'     458  I  58 
24  ' 

;     28 

i      12  08 

it     18  50 

541  16 

521  93 


19      23 


ft75, 
ir. 


4 
11 


18 


SINGLE  ENTRY. 


John  F.  Fuller. 


bbl.  flour, 

bush,  meal, 

gals,  molasses  @  75j^, 

doz.  eggs  @  25f , 

lbs.  cheese  @,  IS/, 

box  salt, 

lbs.  cooking  sugar  @  10^, 

lb.  tea, 

lbs.  soda  @>  8?', 

lbs.  coffee  @  46<*, 

doz.  eggs  (a),  25^, 

lbs.  maple  sugar  @  245*, 

suit  clothes. 

gal.  gherkins, 

lb.  nutmeg, 


$11.25 
.96 

3.00 

1  AA 

.42 

.80 
1.75 

.16 
1.38 
1.00 
1.92 

.75 
.42 


Ti)  biiiaucc, 


By  balance  from  last  month, 


John  Baldwin. 


Apr. 


To  14  lbs.  gran,  sugar  @,  13^,         $1.82 

"  6  lbs.  raisins  («);  23j*,  .        1.88 

**  8  lbs.  pork  @  ib<^,  *            1.20 

1  pr.  boots  (for  self),  9.00 

2  prs.  boys'  boots  @  $5.25,         10.50 
■  lb.  ground  pepper,  .12 

lb.  allspice,  .16 

lb.  cinnamon,  .20 

lb.  cloves,  .25 

So  lbs.  lard  (a>,  18f,  5.40 

^  bush,  cracked  corn,  .37 

1  box  Smyrna  figs,  .50 
To  balance, 


By 

a 

To 

t( 

it 
<< 

ii 

n 


By  balance, 


33 


Dr. 


Cr. 


15      21 


5 
4 
1 


37 


07 
30 
17 


37 


37 


i— 


11      25 


Dr. 


Cr« 


6 

8 


40 


73 


27 


50 


It 


19 


8 


50 


fiO 


10 


34 


1876. 
Mar. 


a 


Apr. 


6 


10 


[ar. 

20 

a 

24 

book-keeping. 


James  Y.  Haines. 


Dr. 


1875. 

Mar. 

4 

To  A  bush,  apples, 

$0.60 

"2      "     potatoes  (T,  63<^, 

1.26 

9 

"  6  lbs.  butter  (/r  35«', 

2.10 

"  1  bush,  oiiious, 

.75 

*'  4  cabbages  @  15*', 

.00 

*'  3  lbs.  honey  (a),  35^, 

1.05 

17 

"  1  chicken,  4  lbs.,  (a)  20f, 

.80 

*'  2  lbs.  Turkey  prunes  @  15/, 

.30 

"  2  gals,  kerosene  oil  @  40f , 

.80 

"  10  lbs.  oatmeal  (a>,  6f , 

.60 

23 

"  4  lbs.  cheese  (R\  ISf , 

.72 

"  15  lbs.  coffee  sugar  @  12<^, 

1.80 

"  1  lb.  cream  tartar, 

.«K) 

*'  1  lb.  soda, 

.10 

80 

By  cash  to  balance  %, 

Mrs.   H.  M.  Demons. 


To  1  bbl.  flour, 

18  lbs.  lard  @  14^ 
I  bush,  rye  meal, 
I  bush,  beans, 
1  bush,  peas, 
1  qt.  oysters. 

By  cash  to  balance, 


n 
(( 
a 
ti 
(I 


To  1  paper  silver  gloss  starch, 
1  box  yeast  powder, 

1  box  sea  moss  farine, 

2  lbs.  chocolate  @  37i^, 
1  lb.  cocoa, 


ti 


To  balance, 


II  r. 


Cr. 


1 

■ 

86 

4 

50 

1 

2 

j 

50 

1 

8 

22 

12 

12 

08 

12 

08 
08 


#*■ 


.   » 


Cr. 


$9.75 

2.52 

.50 

12 

77 

l.(K) 

.50 

.50 

2 

14 

i  i 

14 

77 

14 

Ti 

.20 

.25 

.25 

70 

.75 

.37 

1 

12 

1 

82 

1 

82 

1 

82 

t 


1875. 
Mar, 


Apr. 


18 

18 

27 


1875. 

Mar.      5 


13 

20 


31 


SINGLE  ENTRY, 


Samuel  G.  Oakes. 


35 


Dr. 


Cr* 


To  1  gal.  vinegar, 
"   1  bbl.  apples, 
"  100  lbs.  codfish  @  7/', 

By  f  ton  hay. 

To  30  lbs.  gran,  sugar  @  13/, 
''  1  bush,  herdsgrass  seed, 
"  20  lbs.  clover  seed  @  15/, 
"  1  bush,  redtop, 
*'  1  cask  Rockland  lime, 

By  2  cords  dry  wood  (u)  $5.00, 


$0.42 
4.25 
7.00 


4.00 
3.00 
5.00 
1.60 


To  balance. 


Thomas  K.  Peavey. 


ti 


By  21  bush,  oats  @  72«^, 

61  lbs.  butter  @  3(^(^, 

62  lbs.  dried  apple  @  9/, 
To  cash  on  % , 

To  1  gal.  sirup, 

To  10  lbs.  rice  @  10/, 

"  2  oz.  indigo  @  12/, 

"  i  lb.  borax, 

"  1  bbl.  crackers, 


Apr.       1      By  balance, 


11 
3 

13 


29 


67 
90 

50 


10      07 


Dr. 


10 

10 


00 


07 


07       29      07 


Cr. 


$15.12 

18.30 

5.58 

20 

39 

1 

12 

1.00 

.24 

.32 

1 

56 

4 

50 

39 

89 

11       82 


36 


BOOK-KEEPING. 


EXAMPLE   IV. 

Record  of  some  of  the  business  transactions,  for  the  month  of 
March,  1875,  of  Augustus  Robbitis,  retail  dealer  in  dry  goods. 

March  1.— Cash  on  hand  this  day,  $4,000.00.  Bought  of 
Arnold,  Deane,  &  Co.,  a  stock  of  goods  for  which  we  have  paid 
them  cash,  $3,257.37  ;  and  we  have  paid  Anson  Davis  rent  of  his 
store  for  one  month  in  advance  $15.00. 

Miirch  2.  —  Paid  sundry  expenses,  $25.84. 

March  3.  —  Sold  David  Haskell  on  %,  18  yds.  black  alpaca,  (a) 
7of ;  3  yds.  cambric,  ^  12^  ;  6  spools  machine  cotton,  (a)  Sp  ;  12 
.yds.  Lancaster  gingham,  (a)  15p.  Sold  George  Stevens  on  %,  7 
yds.  striped  shirting,  (a)  20^.  Sold  William  Jones  on  %,  2  fine 
dress  shirts,  fa)  $2.75. 

March  4.  — Sold  Andrew  Bailey  14  yds.  sheeting  at  10,  on  %, 

March  4.  —  Sold  Stephen  Wilson  on  %,  1  doz.  linen  handker- 
chiefs, $3.00;  1  pr.  gloves,  $1.75;  2  prs.  woollen  hose,  (a)  60p. 
Received  cash  for  sales  this  day,  $9.50. 

March  5.  —  Received  cash  for  sales,  $12.00. 

March  6.  —Bought  of  George  Stevens  on  %,  2  cords  dry  wood, 
fa)  $5.00.  Sold  him  on  %,  7  yds.  cassimere,  ^  $2.00  ;  trimmings 
for  pants  and  coat,  $3.00.  Sold  William  Jones  on  %,  1  box  paper 
collars,  300.     Received  cash  for  sales  this  day,  $15.75. 

March  8.— Sold  David  Haskell  on  %,  2^  yds.  table  linen,  (a) 
$2.00  ;  1  yd.  Irish  linen,  80^.  Sold  Erastus  Brown  on  %,  4  wool 
carriage  robes,  ®  $9.50.  Paid  cash  for  freight,  $4.75.  Received 
cash  for  sales  this  day,  $10.70. 

March  9.  — Hired  horse  and  sleigh  of  Erastus  Brown  to  go  to 
Westerly,  for  which  he  has  charged  us  on  %,  $2.50.  Sold  Andrew 
Bailey  on  %,  1  cardigan  jacket,  $2.50 ;  1  cloth  cap,  $1.25.  Sold 
Jacob  Kelley  on  %,  14  yds.  Cocheco  print,  ^12*!^;  11  yds.  bed- 
ticking,  ®  23^ ;  1  doz.  agate  buttons,  30 ;  1  doz.  agate  buttons, 
80.  Paid  cash  for  bill  of  goods,  $500.00.  Received  cash  for  sales 
this  day,  $13.50. 

March  10.  — Andrew  Bailey  has  repaired  show-case  for  us,  and 
chargetl  us  on  %,  $3.75.     Cash  received  for  sales,  $19.00. 

March  11.  — Sold  Stephen  Wilson  on  %,  3  yds.  drilling,  fB 
120  ;  3  yds.  satinet,  ®  $1.12  ;  6^  yds.  striped  shirting,  (a)  20p  ;  I 


m  k 


SINGLE  ENTRY. 


37 


pr.  suspenders,,  50^,     Sold  William   Jones  on   %,   1   set  sleeve- 
buttons,  750.     Cash  received  for  sales  this  day,  $17.50. 

March  12.  —  Sold  David  Haskell  on  %,  3oVds.  bleached  sheet- 
ing, fa)  W  ;  20  yds.  Merrimack  print,  .a)  120  ;  7  yds.  navy  blue 
waterproof  cloth,  (a)  $1.75.  Andrew  Bailey  has  repaired  shelves 
for  us,  and  charged  us  on  %  $3.00.  Cash  received  for  sales  this 
day,  $21.00. 

March  13.  — Received  cash  for  sales  this  day,  $25.00. 

Jfarc/i  15.  — Sold  Erastus  Brown  (per  wife)  on  %,  14  yds. 
cashmere,  fa)  $1.37  ;  5  yds.  cambric,  (a)  12^  ;  1  doz.  buttons,  620  j 
1  spool  silk,  250  ;  4  yds.  niching,  (a)  40P  ;  6  yds.  Hamburg  edging, 
^  250.     He  has  paid  cash  on  %,  $25.00. 

March  16.  — Credited  David  Haskell  for  di-ayage,  $5.50.  Re- 
ceived  cash  for  sales  this  day,  $9.75. 

March  17.  — Cash  received  for  sales  this  day,  $11.00. 

March  18.  —  Sold  William  Jones  on  %,  3  neckties,  ^  62^.     Paid 
cash  for  bill  of  goods,  $200.00.     Received  cash  for  sales  this  day 
$15.00.  •^' 

March  19.  —Received  cash  for  sales  this  day,  $17.50. 

March  20.  —  Hired  horse  of  Erastus  Brown,"for  which  he  charges 
us  on  %,  $3.00.  Bought  of  Andrew  Bailey  on  %  3  chairs  for 
store,  fa)  $1.50.  Sold  William  Jones  on  %,  1  tooth-brush,  400  ;  1 
hair-brush,  620;  3  cakes  honey  soap,  fa)  U0  ;  1  doz.  linen  hand- 
kerchiefs,  $3.00.  Credited  David  Haskell  for  drayage,  $4.75. 
Cash  received  for  sales  this  day,  $30.00. 

March  22.  —Cash  received  for  sales  this  day,  $8.00. 

March  23.  —Sold  George  Stevens  on  %,  12  yds.  tycoon  rep,  fa) 
250 ;  23  yds.  alpaca  braid,  fa)  80.  Received  cash  for  sales  this 
da3%  $13.00. 

March  24.  — Paid  cash  for  sundry  expenses,  $17.65.  Received 
cash  for  sales  this  day,  $12.50. 

March  25.  —Sold  Andrew  Bailey  on  %  4  yds.  wool  carpeting, 
®  $1.75.  Sold  George  Stevens  on  %,  2  wool  bknkets,  fa)  $3.50 ; 
1  Lancaster  bedquilt,  $2.00  ;  7  rolls  wall-paper,  ^  20^  ;  6  curtain 
tassels,  fa)  U^fl;  6  yds.  curtain  cord,  ^  3^  ;  6  yds.  bleached 
sheeting,  fa)  200.  He  has  paid  cash  on  %,  $12.00.  Received  cash 
for  sales  this  day,  $16.50. 

March  27.  —  Received  of  Erastus  Brown  on  %,  $10  00  Re- 
ceived for  sales  this  day,  $29.50. 


38 


BOOK-KEEPING. 


March  29.  —  Paid  for  bill  of  goods,  $200.00.  Sold  Jacob  Kelley 
on  %,  7  yds.  denim,  (a)  20^  ;  12  yds.  crash,  (a)  ISp  \  I  umbrella, 
$1.25.     Received  cash  for  sales  this  day,  $9.00. 

March  30.  —  Received  cash  for  sales  this  day,  $11.50.  Credited 
David  Haskell  for  drayage,  $2.00. 

March  31.  — Received  for  sales  this  day,  $12.88. 

If  these  transactions  are  correctly  written  out  according  to  the 
foregoing  fonn,  there  will  be  $166.47  of  cash  on  hand.  There  will 
also  be  a  red  ink  balance  on  the  Cr.  side  of  all  the  other  accounts, 
as  follows :  — 

David  Haskell $28.34 

George  Stevens 14.02 

William  Jones .  12.88 

Stephen  Wilson •        .        ,11.27 

Andrew  Bailey 1.46 

Erastus  Brown 21.25 

Jacob  Kelley      .........  9.13 


TKIxtD    FORlVx. 


95.  How  man)'  books  are  used  in  the  third  form? 
Three,  —  da^'-book,  ledger,  and  cash-book. 

96.  What  is  a  daj'-book? 

A  day-book  is  the  book  of  original  entry,  in  which  business 
transactions  are  recorded  at  the  time,  in  the  order,  and  under  the 
date,  of  their  occurrence. 

97.  How  should  a  dav-book  be  ruled? 
Like  the  ledger  of  the  first  fonn. 

98.  What  should  be  written  on  the  first  horizontal  line? 

The  name  of  town.  State,  month,  da)*,  year.  The  name  of  the 
State  may  be  omitted  after  the  first  page. 

99.  What  should  be  written  in  the  first  column? 
The  (late,  when  it  changes. 

100.  What  should  be  written  in  the  second  column? 
The  page  of  the  ledger  to  which  the  transaction  is  posted. 

101.  When  should  these  page  marks  V)e  entered? 
Imuiediatel}'  after  the  transaction  is  posted. 

102.  Whv? 

To  show  that  it  is  posteil. 


■1 


SINGLE   ENTRY. 


39 


103.  With  what  kind  of  ink  should  the  page  mark  be  entered? 
Red  or  black  ;  in  actual  business,  usually  black. 

104.  What  should  be  written  in  the  third  column? 
The  record  of  the  transaction. 

105.  AVhat  in  the  fourth  column? 
Dollars. 

lOG.    What  in  the  fifth  column? 
Cents. 

107.  How  should  the  transactions  be  separated? 
By  a  single  line  across  the  third  column. 

108.  What  transactions  should  be  recorded  in  the  day-book  of 

this  form  ? 

When  goods  are  bought  or  sold  on  % ,  when  cash  is  paid  or  re* 
ceived  on  %,  and  when  a  note  is  issued  or  received  on  %. 

109.  What  kind  of  ink  should  be  used  in  the  day-book? 
•     All  black,  except  in  the  second  column. 

EXAMPLE  V. 

# 
Record  of  part  of  the  business  transactions  of  A.  M.  True,  a 

retail  dealer  in  books  and  stationery. 

April  5,  1875.  —  Cash  on  hand  this  day,  $134.16.  Sold  Henry 
J.  Turner  on  %,  Appleton's  New  Cyclopaedia,  16  vols.,  (a)  $5.00  ; 
Addison's  Complete  Works,  $6.00.     Paid  cash  for  drayage,  $2.50. 

April  6.  —  Sold  John  M.  Flanders  on  %,  1  geometry,  $1.25  ;  1 
grammar,  $1.00;  2  spellers,  (a>  35^;  4  writing-books,  (a)  140. 
Received  cash  for  sales  this  day,  $12.00. 

April  7.  —  Paid  cash  for  fixing  pump,  $3 .  75 .  Bought  of  Richard 
S.  Wood  on  %,  1  ton  hay,  $17.00  ;  ^  ton  straw,  $5.00.  Received 
cash  for  sales  this  day,  $15.00.  Bought  of  John  M.  Flanders  on 
%,  4  bushels  potatoes,  ^  500  ;  J  bushel  beans,  (a)  $3.00 ;  6  lbs. 
butter,  (a)  30^. 

April  8.  —  Sold  Solomon  Oilman  on  %,  1  Webster's  Dictionary, 
$12.00.  Henry  J.  Turner  has  paid  us  cash  on  %,  $50.00.  Paid 
gas-bill  in  cash,  $13.21.     Received  cash  for  sales  this  day,  $18.00. 

Aprils.  —  Paid  peddler  for  bill  of  stationery,  $17.09.  Sold 
John  M.  Flanders  on  %,  1  quire  paper,  20^  ;  100  envelopes,  400 ; 
2  pencils,  (a)  5^.     Received  cash  for  sales  this  day,  $11.50. 

April  10.  —  Sold  Samuel  W.  McCall  on  %,  1  Latin  Lexicon, 


40 


BOOK-KEEPING, 


$5.00 ;  1  Greek  Lexicon,  $5.00 ;  1  Virgil,  12.25  ;  1  Anabasis, 
$1.37.  Received  cash  for  sales  this  day,  $21.75.  Received  cash 
for  use  of  horse  and  carriage,  $2.50. 

The  transactions  of  the  remainder  of  the  month  will  be  suffi- 
ciently well  understood  by  referring  to  the  several  books  without 
extending  this  record  any  further. 

The  objection  is  sometimes  made,  that  book-keepers  seldom  use 
red  ink  in  actual  business.  But  it  should  be  remembered  that  the 
design  of  a  text-book  is  to  assist  the  learner  m  acquiring  knowl- 
edge, and  to  aid  the  teacher  in  imparting  it.  No  teacher  will 
have  any  doubt  in  regard  to  the  advantage  of  having  red  ink  in  a 
treatise  on  book-keeping.  In  the  eountmg-room.  where  it  is  i)re- 
sumed  that  the  book-keeper  understands  thoroughly  the  theory  of 
accounts,  red  ink  is  frequently  dispensed  with. 


SINGLE  ENTRY. 


41 


6 


DAY-BOOK. 
New  Hampton,  KH,,  April  5,  1875. 

Henry  J.  Turner,  l)r. 

To  Appleton's  Cyclop.,  16  vols.  @  $5.00,  $80.00 
"  Addison's  Works,  6.00 


John  M.  Flanders, 

To  1  geometry, 
"  1  grammar, 
"  2  spellers  @,  Zof, 
"  4  writing-books  @,  Hf, 


Richard  S.  Wood, 

By  1  ton  hay, 
"  i  ton  straw, 


Br. 

$1.25 

1.00 

.70 

.56 


Cr. 

$17.00 
5.00 


86        00 


3       51 


22        00 


John  M.  Flanders, 


By  4  busliels  potatoes  @  50'', 
"  f  bushel  beans  (a)  $3.00, 
"  6  lbs.  butter  ^  30^, 


Cr. 

$2.00 
1.50 
1.80 


30 


8 


Solomon  Oilman, 

To  1  Webster's  Dictionary, 


Dr. 


12        00 


9 


10 


Henry  J.  Turner, 

By  cash  on%, 

John  M.  Flanders, 

To  1  quire  paper, 
"  100  envelopes, 

"  2  pencils  (n^  5/, 

Samuel  W.  McCall, 

To  1  Latin  lexicon, 
"  1  Greek  lexicon, 
"  1  Virgil. 
*•  1  Anabasis, 

Amount  fonoard, 


Cr. 


50 

00 

Dr. 

$0.20 
.40 
.10 

70 

Dr. 

$5.00 
5.00 
2.25 
1.37 

13 

62 

193 

13 

^K.mm 


13 


14 


15 


16 


17 


19 


20 


BOOK-KEEPING. 


New  Hampton^  April  12,  1875. 


Amount  hrougJd  forward. 

193 

13 

Richard  S.  Wood, 

Dr, 

To  1  higher  arithmetic, 
'*  1  practical  arithmetic, 
"  1  book-keeping, 
"  1  set  blanks, 

$1.50 

$1.25 

3.25 

1.40 

7 

40 

John  M.  Flanders, 

Dr. 

To  9  rolls  room-paper  @  40f , 

3 

60 

Richard  S.  Wood, 

Dr. 

To  Dickens* s  Bleak  House,  2  vols., 

3 

00 

Henry  J.  Turner, 

Cr. 

By  cash  to  balance  % , 

36 

: 

00 

Solomon  Gilman, 

Dr. 

To  1  blank-book, 

30 

John  M.  Flanders, 

Cr. 

By  1  cord  maple  wood, 

t 

5 

00 

Samuel  W.  McCall, 

Cr. 

By  cash  to  bal.  %, 

13 

62 

Richard  S.  Wood, 

Dr. 

To  1  arithmetic, 
'*  1  slate, 

$1.25 
.31 

1 

56 

John  M.  Flanders, 

Dr. 

To  19  yds.  border  (^o  5<', 
*'  1  blank-book. 

.95 
.19 

1 

14 

Samuel  W.  McCall, 

Dr. 

To  4  quires  paper  @  Ib^, 
"  1  Rogers  Thesaiinis, 

$0.60 
2.00 

2 

267 

60 

Amount  forward, 

35 

.  ^••••iUi.Ma~a    »»m— ■Illlliilllll lll|ill||||IIM 


SINGLE  ENTRY. 


43 


JVew  Hampton^  April  21,  1875. 

llill.iili.ll..ll.llillW.III.»Wllilllllll|ll,||ll.ll.llllll|l , ,  IM  —„■■„„■■ A ...    


22 


411' 


4<t 


:•)<  i' 


24 


26 


28 


29 


41* 


4  il 


Amount  brought  fonoard, 


Solomon  Oilman, 
By  cash  on  %, 


John  M.  Flanders, 

By  2  cords  pine  wood  @  $3.00, 


Jackson  Peavey, 

By  shoeing  horse, 


Samuel  W.  McCall, 
To  1  Bo  wen's  Logic, 

■""""    ""—""• ■■"""■'— ■'■■ ■ ■■■— .'II- 111. ■— 

Jackson  Peavey, 

To  10  rolls  paper  @  25/, 


John  M.  Flanders, 
To  1  nat.  philosophy, 


Solomon  Gilman, 
By  cash  to  bal.  %, 


Richard  S.  Wood, 
To  cash  to  bal.  %, 


Samuel  W.  McCall, 

'  '  '         To  1  Shakspeare, 
Contra, 

By  cash  to  balance  %, 


Total  footing, 


Cr. 


Cr. 


Cr. 


Dr, 


Dr, 


Dr. 


Cr. 


Dr. 


267        35 


Dr, 
Cr, 


10 


6 


00 


00 


7S 


00 


2        50 


10 


20 


90 


04 


4 
8 


316 


25 

85 


1 


44 


BOOK-KEEPING, 


CASH-BOOK. 


110.  What  is  the  second  book  in  the  third  form  of  accounts? 
The  cash-book. 

111.  Wliat  is  a  cash-book ?  \ 

A  book  in  which  the  proprietor  keeps  an  account  of  money 
received,  and  money  paid  out. 

112.  How  is  the  cash-book  ruled? 
Like  the  ledger  of  the  second  form. 

113.  How  many  pages  are  used? 

Two. 

114.  What  is  written  on  the  first  horizontal  line  of  the  left- 
hand  page  ? 

Cash  (received)  and  Dr. 

115.  What  in  the  first  column? 
The  year  and  month  as  in  a  ledger. 

116.  What  in  the  second  column? 
The  day  of  the  month. 

117.  What  in  the  third? 

Record  of  transactions  producing  debit  entries. 

118.  What  in  the  fourth  and  fifth  columns? 
Money  received. 

119.  What  in  the  sixth  and  seventh  columns? 
Balances,  full  extensions,  and  footings. 

120.  What  are  balances? 

Amounts  on  hand  brought  down  from  the  opposite  side. 

121.  What  are  full  extensions  ? 

Footings  of  the  first  set  of  money  columns,  representing  the 
amount  of  money  received. 

122.  What  are  footings? 

The  sum  of  the  balances  and  ftill  extentions. 

123.  What  should  be  written  on  the  first  horizontal  line  of  the 
right-hand  page  ? 

Cash  (Paid)  and  Cr. 

124.  What  in  the  first  column? 
Year  and  month. 

125.  What  in  the  second  column? 
Day  of  the  month. 


SINGLE  ENTRY. 


45 


126.  What  in  the  third  column ? 

Record  of  transactions  producing  credit  entries. 

127.  What  in  the  fourth  and  fifth  columns? 
Amounts  of  money  paid  out, 

128.  What  in  the  sixth  and  seventh  columns? 
Full  extensions,  red  ink  balances,  and  footings. 

129.  How  should  the  cash-book  be  balanced? 

As  the  cash  account  was  balanced  in  the  ledger  of  the  first  form. 

130.  How  often  should  the  cash-book  be  balanced? 

Once  a  day,  once  a  week,  or  once  a  month.  Usually  the  petty 
cash-book  is  balanced  every  night,  and  the  main  cash-book  once  a 
week,  or  once  a  month. 

131.  What  is  a  petty  cash-book? 

In  retail  business,  where  many  articles  are  bought  and  sold  for 
cash,  it  is  customary  to  enter  the  several  amounts  in  a  small  book 
called  a  petty  cash-book.  This  is  balanced  at  the  close  of  the 
day*s  business ;  the  items  are  condensed  and  entered  in  the  gen- 
eral cash-book ;  and  the  money  in  the  drawer  is  counted,  and 
should  a^ree  with  the  balance  of  the  petty  cash-book.  If  pay- 
ments are  made  from  the  counted  money,  the  entry  should  be 
made  in  the  general  cash-book  only. 


46 


BOOK-KEEPING. 


1875. 
Apr. 


a 
u 
a 
a 
a 
it 
it 


5 

6 
7 
8 

9 

10 


Apr.    12 


(( 
ti 
u 
ti 
«( 
n 
ti 


Apr. 


a 
ti 
ti 
a 


13 
14 

15 

16 

17 


19 

20 
21 

22 
23 


Apr.    26 


Cash 


(Received). 


To  amount  on  hand, 
"  cash  sales  this  day, 


ti 
ti 
ti 
ti 

it 
a 
(I 


27 
28 

29 

30 


tt 

a 
tt 
it 


a 


n 


rec'd  of  Henry  J.  Turner  on  %, 
for  sales  this  day, 


tt 

a 

a 


"  horse  and  carriage, 
"  sales  this  day. 


To  balance  from  last  week, 

"  rec'd  for  sales  this  day. 

**   «*  tt       it      (/' 


(( 

it 
tt 
ti 
a 
ti 


a 
ti 
ti 
it 
tt 
tt 
it 


of  Henry  Turner  to  bal.  %, 

for  sales  this  day, 

ii     ii      /<      , ,  ^ ' 


ti 


a 


it 


Of  S.  W.  McCall  to  bal.  %, 
for  sales  this  day. 


«( 


it 


(( 


To  balance  from  last  week, 
rec'd  for  sales  this  day, 

ti         a  li     ,,         .  J» 


tt 
(t 
ii 
(( 
(( 
ti 
it 


ti 
ii 
tt 
ti 
ti 
ti 


(( 


(( 


tt 


of  Solomon  Gilman  on  %, 
for  sales  this  day, 


tt 
ft 


tt 
(t 


tt 
tt 
n 


tt 
ft 
ft 


To  balance  from  last  week, 
rec'd  for  sales  this  day. 


ft 
tt 
tt 
ft 
<f 
tt 


ti 
It 
it 
it 
tt 
ii 


tt 


tt 


tt 


Of  Solomon  Gilman  to  bal.  %, 
for  sales  this  day, 

it  ti  ,  ,  ,    •»   ' 


ft 


tt 


tt 


Of  S.  W.  McCall  to  bal.  %, 
for  sales  this  day, 


May     1     To  balance  from  last  mouth, 


13 

60 

18 

00 

36 

00 

7 

00 

19 

50 

13 

62 

14 

50 

27 

10 

14 

00 

13 

00 

10 

00 

17 

50 

7 

25 

11 

75 

28 

50 

Dr. 


134 

16 

12 

00 

15 

00  ! 

50 

00 

18 

00 

11 

50 

2 

50 

21 

75 

264 

91 

264     91 
228     36 


149     22 


377     58 
195     01 


102     00 
297     01 

260     90 


18 

75 

17 

00 

2 

30 

14 

00 

19 

00 

8 

85 

28 

00 

107 

90 

368 

80 

817 

76 

SINGLE  ENTRY. 


47 


Cash  (Paid). 


Cr 


1875. 

Apr. 

5 

ft 

7 

ii 

8 

n 

0 

tt 


By  paid  for  drayage, 
*'      "     "    fixing  pump, 
"     "    gas  bill, 
**     "    for  stationery, 

■-!itonliand, 


Apr.    13     By  paid  for  repairing  store 
^»     15       "      "     "  bill  of  goods  of] 


Apr.    20     By  paid  for  painting, 

23       "      "      "  printing  circulars, 
"      "     "  papering  chambers, 
*'     "     "  meat  bill, 


Apr.    26     By  paid  insurance, 
"     28       "      "    KichardS.  Woodtobal.  %, 
"     29      "      "    clerk  hire, 


3 
13 
17 


6 
Dessel- &  Ayer,  176 


9 
10 

i!   4 
12 


50 

75 
21 
09 


33 
24 


00 
00 
75 
36 


14 
10 

27 

00 
04 
00 

36 


55 


264  91 


182 
377 

57 

58 

36 

11 

297 

01 

51  04 


868  80 


48 


BOOK-KEEPING. 


LTT1  TV  f^  T?Ty 
Sii  D  \J  Sh  XV. 


132.  What  is  a  ledger?     (See  12.) 

133.  What  is  the  difference  between  a  ledger  of  the  first  or 
second  fonns,  and  a  ledger  of  the  third  form  ? 

In  the  first  and  second  forms  the  transactions  are  entered  only  in 
the  ledger.  In  the  third  form  thej^  are  entered  in  the  day -book 
first,  and  then  the  results  are  carried  to  the  ledger. 

134.  In  the  third  form,  how  many  pages  are  used  for  an  account  ? 
One. 

135.  How  is  the  debit  side  separated  from  the  credit? 
By  a  double  blue  vertical  line  in  the  centre. 

136.  What  is  written  on  the  first  horizontal  line? 
Dr.,  the  name  of  the  account,  and  Cr. 

137.  Where  should  each  be  written? 

Dr.  over  the  debit  date  columns,  Cr.  over  the  credit  money 
columns,  and  the  name  in  the  centre  of  the  page. 

138.  What  should  be  written  in  the  first  column  ? 

The  year  and  month,  taken  from  the  heading,  or  the  first  column 
of  the  day-book. 

139.  What  should  be  written  in  the  second  column? 
Day. 

140.  What  in  the  third  column  ? 

" To "  the  article  when  there  is  but  one  ;  "To"  sundries  when 
there  are  several  articles. 

141.  What  in  the  fourth  column? 

The  page  of  the  day-book  where  the  record  of  the  transaction 
may  be  found. 

142.  What  in  the  fifth  and  sixth  columns? 
The  debit  amounts. 

143.  What  change  is  made  in  the  credit  side  ? 

"  By  "  takes  the  place  of  ''  To  **  in  -the  third  column,  and  the 
credit  amounts  are  placed  in  the  money  columns. 

144.  What  %  should  be  placed  first  in  the  ledger? 

The  first  account  in  the  day-book,  and  so  on  in  their  order.  In 
actual  business  only  one  account  should  be  placed  on  a  page. 


SINGLE  ENTRY. 


49 


Dr. 


Henry  J.  Turner. 


Cr. 


1875. 
Apr.  6     To  sundries, 


41       86 


' 

86 

41 

42 

50 
36 

86 

Dr. 


John  M.  Flanders. 


Cr. 


1875. 

Apr.  6  To  sundries, 

•'      9  •'         .« 

"    13  ]  "  paper, 

*•    19  '  "  sundries. 

"    26  "  philosophy, 


1875. 

41 
41 

42 
42 
43 

3 

3 
1 
1 

51 

70 
60 
14 
20 

Apr,  7 
"     15 

••    22 

By  sundries, 
"  1  cord  wood, 
"  2  cords  wood, 

41 

42 
43 

5 
5 

6 

30 
00 
00 

16 

30 

Mayl 

t.      1 

By  balance, 

i 

t 

16 
6 

30 

i 

15 

Dr. 

Richard 

s.  ^^ 

^OOD. 

{ 

Or. 

1875. 
Apr.  12 
'•    13 
"    17 
"    28 

To  sundries, 
"  Bleak  House, 
"  sundries, 
"  cash  to  bal., 

1875. 
42         7      40      Apr.  7 
42         3      00   ! 

42  1       66 

43  10      04   j 

i! 

,  [            1 % 

By  sundries. 

41 

22 

22.       00   * 

22 

00 

Dr. 

Solomon  Gh^man. 

Cr 

1875. 
Apr.  8 
^'    15 

To  dictionary, 
"  blank  book, 

41  12 

42  'l 

1 

00 
30 

• 

r  1876. 
Apr.  21 

"    28 

1  By  cash, 
**  cash  to  bal., 

43 
43' 

• 

10      00 
2       30 

12 

30 

12      30 

■Il 

1  II 
1 

50 


BOOK-KEEPING. 


Br. 


Samuel  W.  McCall. 


Cr, 


1875. 
Apr.  10 

Apr.  20 
•'   24 
'•   29 

To  sundries, 

To  flundries. 
*'  Bowen'8  Logic, 
**  Sbakspearo, 

41 

42 
43 
43 

13 

2 
'< 

4 

1    1875. 
62     Apr.  IG 

i 

m     Apr.  29 

CM)    ■ 

1-    * 

By  casli  to  bal. 
By  cash,  to  bal. 

42 
43 

n 

13 

8 

62 

85 

8 

85  i 

8 



85 

_J 

L- 

Br. 


Jackson  Peavey. 


Cr. 


1875. 
Apr.  24 

To  10  rolls  paper, 

43 

'      2 

1 

50 

1, 

1875. 
Apr.  22 

By  shoeing  horse, 

By  'iMih 

U 

r 

t 

i 

1 

^.^ 

O 

50 

■      2 

50 

May   1 

To  balance, 

1 

J 

75 

I— jj 

\i 

As  one  form  of  index  has  been  inserted  in  the  first  form,  and 
another  in  the  second  form,  we  omit  the  index  in  this  form. 


PROOF  OF  THE  POSTING. 


Dr. 

Cb. 

$8<'l00 

Henry  J.  Turner    . 

.    $86.00 

10.15 

John  M.  Flanders  . 

.      16.30 

22.00 

Richard  S.  Wood    . 

.      22.00 

i2.:30 

Solomon  Gihnan    . 

.      12.30 

13.62 

Samuel  W.  McCall 

.      13.62 

8.85 

Samuel  W.  McCall 

8.85 

2.50 

Jackson  Peavey     . 

•       t 

1.75 

$155.42 

$155.42  Total  debit*. 

$160.82 

160.82  Total  credit!. 

$316.24  Total  debits  and  credits  equal  the  total  footiog  of  the  c 

laybook. 

SlXGLi:   ENTRY. 


51 


145.  What  is  the  proof  of  the  posting? 

The  sum  of  the  debit  and  credit  footings  of  the  several  ledger 
accounts  will  equal  the  total  footings  of  the  money  columns  of  the 
day-book,  if  the  posting  is  correct. 

146.  Why? 

Because  all  the  debit  amounts  from  the  day-book  are  carried  to 
the  debit  side  of  the  ledger,  and  all  the  credit  amounts  to  the 
credit  side  of  the  ledger ;  hence  the  sum  of  the  footings  of  the 
debit  and  credit  sides  of  the  accounts  must  equal  the  footing  of 
the  day-book.  If  this  sum  should  be  less  than  the  footing  of  the 
day-book,  it  will  indicate  that  something  has  been  omitted^in  post- 
ing. If  it  should  be  more,  it  will  indicate  that  some  item  has  been 
posted  twice,  or  that  some  other  mistake  has  been  made.  In 
either  of  these  cases  the  work  should  be  reviewed  until  the  results 
correspond. 

147.  When  should  the  proof-sheet  be  made? 

As  soon  as  the  posting  of  the  month's  work  is  finished,  before 
any  red  ink  entries  are  made  in  the  ledger. 

148.  Why  is  Samuel  W.  McCall's  name  entered  twice  in  the 
proof-sheet  ? 

Because  his  %  was  balanced  April  16,  and  opened  again  ;  hence 
both  sets  of  footings  must  be  entered  in  the  proof-sheet  in  order 
to  agree  with  the  footing  of  the  day-book. 

As  the  opening  and  closing  of  a  set  of  books  are  the  most  diffi- 
cult parts  of  book-keeping,  it  is  thought  best  that  the  learner 
should  close  the  ledger  at  the  end  of  each  month.  But  in  actual 
business  this  is  seldom  done.  Every  prudent  business  man  will, 
however,  close  his  books  at  least  twice  a  year. 


52 


BOOK-KEEPING. 


SINGLE  ENTRY. 


5S 


EXAMPLE  VI. 

A  record  of  part  of  the  business  transactions  of  James  El  well, 
maker  of,  and  dealer  in  boots  and  shoes,  for  the  month  of  April; 
1875. 

April  h J  1875. — Amount  of  cash  on  hand,  $187.62.  Bought 
of  Muzzy,  Whitehouse,  &  Co.,  for  cash,  40  lbs.  sole-leather,  (a) 
45^,  Sold  Fred  Williams  on  %,  1  pr.  calf  boots,  $8.00;  1  pr. 
carpet  slippers,  $1.75  ;  1  pr.  arctics,  $2.50.  Cash  received  for 
sales  this  da}-,  $12.00. 

Aprils.  —  Paid  J.  Jackson  «&  Co.,  cash  for  bill  of  goods, 
$97.00.  Sold  Sewell  Titus  on  %,  2  pr.  boy's  boots,  (a)  $5.00. 
Sold  George  Pease  on  %,  1  pr.  ladies'  glove-kid  boots,  $4.75; 
and  1  pr.  kid  slippers,  $1.75.     Received  cash  for  sales,  $10.75. 

April  7.  —  Bought  of  Fred  Williams  on  %,  1  bottle  Vinegar 
Bitters,  $1.00;  4  bars  soap,  (a)  15^.  Cash  received  for  sales, 
$15.00. 

Aprils. — Sold  Francis  G.  Fowler  on  %,  1  pr.  rubber  boots, 
$4.00 ;  1  pr.  children's  boots,  $2.25.  Mended  boots  for  AVillard 
Sprowl,  and  charged  him  on  %,  $1.37.  Paid  cash  for  freight, 
$3.50.     Received  cash  for  sales  this  day,  $17.00. 

April  9.  — Mended  boots  for  Sewell  Titus,  and  charged  him  on 
%,  25^.  Bought  of  him  on  %,  30  lbs.  butter,  fa)  35p  ;  6  doz.  eggs, 
(a)  20^.     Received  cash  for  sales  this  day,  $13.50. 

April  10.  — Sold  Samuel  T.  Bennett  on  %,  1  pr.  men's  boots, 
$6.00 ;  2  pr.  boy's  boots,  fa)  5.00 ;  2  pr.  ladies'  serge  boots,  fa) 
$2.75  ;  3  pr.  children's  serge  boots,  fa)  $1.75.  Mended  boots  for 
George  Pease,  and  charged  him  on  %,  45*?.  Paid  cash  for  bill 
goods,  $59.67.     Received  cash  for  sales  this  day,  $25.00. 

April  12.  —  Bought  of  Joseph  Hanson  on  %,  1  bbl.  flour,  $10.75. 
Paid  Mrs.  O'Brian  cash  for  cleaning  store,  $3.75.  Received  cash 
for  sales,  $11.50» 

April  13.  —  Bought  of  Fred  Williams  on  %,  3  bottles  porter,  fa) 
500  ;  1  bottle  ink,  10^.  Sold  Sewell  Titus  on  %  1  pr.  brogans, 
$2.00.  Sold  Francis  G.  Fowler  on  %  1  pr.  ladies'  serge  slippers, 
$1.00.  Mended  shoes  for  Willard  Sprowl,  and  charged  him  on  %, 
20^.  George  Pease  has  paid  cash  on  %,  $5.00.  Cash  received 
for  sales  this  dav,  $15.75. 


April  14.  — Cash  received  for  sales  this  day,  $18.50. 

April  15.  —  Cash  received  for  sales  this  day,  S23.00. 

Aj)ril  16. — Sold  Joseph  Hanson  on  %,  1  pr.  rubbers,  87^  ;  1 
pr.  ladies'  bronze  kid  boots,  $9.00 ;  1  pr.  children's  slippers, 
$1.25  ;  1  pr.  infant's  shoes,  $1.00.  Bought  of  Sewell  Titus  on  %, 
1  bu.  potatoes,  620  ;  4  lbs.  veal,  fa)  Up.  Sold  Fred  Williams 
on  %  1  pr.  rubbers,  $1.00.  Paid  cash  for  stock,  $56.40.  Re- 
ceived cash  for  sales  this  day,  $20.75. 

April  17.  —  Sold  Willard  Sprowl  on  %,  1  pr.  children's  copper- 
toed  shoes,  $1.25  ;  1  pr.  boy's  boots,  $4.75  ;  1  pr.  ladies'  congress 
boots,  $2.00  ;  1  pr.  brogans,  $2.00.  Francis  G.  Fowler  has  paid 
cash  to  balance  his  %,  $7.25.     Received  cash  for  sales,  $29.75. 

April  19.  —  Sold  George  Pease  on  %,  1  pr.  kip  boots,  $7.25. 
Sold  Samuel  T.  Bennett  on  %,  3  pr.  children's  rubbers,  fa)  62p  ;  1 
pr.  ladies'  rubbers,  fa)  7bp.  Paid  cash  for  sawing  wood,  $3.25. 
Received  cash  for  sales  this  day,  $14.75. 

Ajm'l  20.  —  Sold  Fred  Williams  on  % ,  1  pr.  congress  gaiters, 
$3.25.  Sold  Sewell  Titus  on  %,  2  pr.  boy's  calf  boots,  ^E  $7.00. 
Bought  of  him  2  chickens,  8  lbs.,  (a)  20p.  Sold  Francis  G.  Fowler 
on  %,  1  pr.  children's  bronze  kid  boots,  $2.75.  Paid  cash  for 
sundries,  $2.91.     Received  cash  for  sales  this  dav,  $17.50. 

April   21.  —  Received  cash  for  sales  this  day,  $21.50. 

April  22.  —  Bought  of  Joseph  Hanson  on  %,  30  lbs.  gran, 
sugar,  fa)  Up  ;  5  lbs.  coffee,  fa)  42^.  Sold  Samuel  T.  Bennett  on 
%,  1  shawl-strap,  62^.  Willard  Sprowl  has  paid  cash  on  %, 
$5.00.     Received  for  cash  sales  this  day,  $25.75. 

April  23.  —Bought  of  Fred  Williams  on  %,  :^  ream  paper,  50^. 
Sold  Francis  G.  Fowler  on  %,  1  pr.  children's  rubbers,  62^.  Re- 
ceived of  Samuel  T.  Bennett  cash  on  %,  $20.00.  Received  for 
cash  sales  this  day,  $19.25. 

April  24.  — Sold  Joseph  Hanson  on  %,  1  pr.  calf  boots,  $8.00. 
Sold  George  Pease  1  pr.  cloth  gaiters,  $3.25.  Paid  cash  for  stock, 
$19.31.  Sewell  Titus  has  paid  cash  on  %,  $10.  Received  cash 
for  sales  this  day,  $27.00. 

Ajyril  26.  — Soled  1  pr.  slippers  for  Fred  MHlliams,  and  charged 
him  on  %,  $1.50.  Paid  cash  for  horse-hire,  $3.25.  Received  for 
cash  sales  this  day,  $16.50. 

^pn7  27.  —  Bought  of  Sewell  Titus  on  %,  i  bu.  beets,  33/; 
i  bu.  beans,  $1.00;    2  doz.  eggs,  fa)  20p.     Sold  Joseph  Hanson 


o4 


BOOK-KEEPING. 


SINGLE  ENTRY. 


55 


on  %,  1  pr.  ladies'  serge  boots,  $3.25.     Received  cash  for  salea 
this  day,  S19.00. 

April  28.  — Received  cash  for  sales  this  day,  $21.00. 

April  29.  —  Fred  Williams  paid  cash  on  %,  glO.OO.  Mended 
shoes  for  Francis  G.  Fowler,  and  charged  him  on  %,  37^.  Re- 
ceived  cash  for  sales,  $23.75. 

^pn7  30.  —  Bought  of  Joseph  Hanson  on  %,  20  lbs.  lard,  (a) 
lof;  I  box  raisins,  $1.25;  1  lb.  tea,  $1.25.  Willard  Sprowl  has 
paid  cash  to  balance  %,  $6.57.  Paid  clerk's  salary,  $30.00. 
Received  cash  for  sales  this  day,  $15.75. 

PROOF-SHEET. 


X/JK« 

#18.00 
26.25 

17.45 
7.25 
3.74 
11.57 
20i>8 
23.37 

$137.61 


Fred  Williams 
Sewell  Titus  . 
George  Pease 
Francis  G.  Fdwier 
Francis  G.  Fowler 
Willard  Sprowl 
Samuel  T.  Bennett 
Joseph  Hanson      . 


$137.61   Total  dcbiti. 
10<].32   Total  crediti. 

$243.93  Equal  the  footinff  of  day-book. 


Cb. 

$13.70 

26.25 

5.00 

7.25 

0.00 

11..57 

20.00 

22.55 

$100.32 


C««h  on  hand  .May  1.  $.38S.65. 


FOURTH   FORM. 

149.  What  is  meant  by  partnership  business? 

When  two  or  more  persons  unite  their  propertv  and  interest  in 
the  prosecution  of  a  certain  kind  of  business,  to  be  carried  on 
under  a  firm  name,  on  joint  account  and  risk. 

150.  With  what  sliould  each  partner  be  credited? 
With  his  investment,  and  his  part  of  the  net  gain. 

151.  With  what  should  each  partner  be  (h-bited? 

With  all  debts  assumed  by  the  firm  for  him,  with  all  money  or 
other  species  of  property-  witlidrawn  from  the  firm,  and  with  his 
part  of  the  net  loss. 


152.  When  should  the  net  loss  or  gain  be  carried  to  the  part- 
ner's account? 

When  the  books  are  closed. 

153.  How  often  should  the  books  be  closed? 

This  depends  upon  the  nature  of  the  business.  Sometimes  the 
books  are  closed  once  a  month,  sometimes  once  in  six  months, 
sometimes  only  once  a  year. 

154.  How  many  books  are  employed  in  this  form? 

The  same  number  as  in  the  last,  —  day-book,  cash-book,  and 
ledger. 


In  the  following  example,  James  L.  Davis  and  J.  O.  Hancock 
form  a  partnership  under  the  firm  name  of  ''  Davis  &  Hancock," 
for  the  purpose  of  engaging  in  the  retail  business  in  a  variety  store 


in  a  large  village. 


James  L.  Davis  invests  $3,000  cash,  and  his  store  and  fixtures 
valued  at  $6,000.  J.  O.  Hancock  invests  his  stock  of  goods  at 
90  per  cent  on  the  first  cost,  $7,334,  and  cash  enough  to  equal 
the  investment  of  the  other  partner,  $1,666.  Each  partner  is  now 
credited  with  his  investment  in  the  day-book,  and  tlie  cash  invested 
by  each  is  entered  on  the  debit  side  of  the  cash-book.  The 
remainder  of  the  transactions  can  probably  be  understood  by 
referrins:  to  the  several  books  without  the  record  of  transactions. 


i 


&6 


6 


8 


BOOK-KEEPING. 
EXAMPLE   VII. 

Mtv  Hampton,  KM.,  May  3,  1875. 


James  L.  Davis, 

By  cash  invested, 

store  and  fixtures  invested, 


(1 


J.  O.  Hancock, 

By  mdse.  invested 
*'  cash  ** 


Henry  H.  Sawtelle, 

To  1  bbi.  flour, 
''  8  bush,  meal  (^,  90«?, 
"   1  bbl.  gran,  sugar  (190  lbs.)  %  llf , 


Ben  J.  B.  Webb,  Dr. 

To  16  yds.  Merrimac  print  @  m<,  $2.00 

12    "    Amoskeag    **     @  IQf,  1.20 

19   "    Lancaster  gingham  %  14/,        2.66 

Lawrence  4-4  sheeting  @  14/,  4.62 

cotton  flannel  (a)  18^'^,  i.yg 


Cr. 

$:],ooo 

6,000 

9,000 

Cr. 

$7,:»4 
1,666 

9,000 

Dr. 

$9.75 

7.20 

20.90 

37 

00 


4i 

(( 

"  33 
"  11 


44 
t4 
44 
4i 


George  W.  Howe, 

To  1  bbl.  super-phosphate  lime, 
*'  28  gals,  molasses  (n  62^, 
"  10  papere  garden-seeds  (^  4'', 
*'   1  shovel. 


Livingston  Muzzy, 

To  4  bush,  potatoes  Q,  60f , 
**  1  bbl.  flour  (St.  Louis), 
1  bush,  meal, 
18  lbs.  gran,  sugar  @  12/, 
14    "    cooking  sugar  fa)  lOf , 
3     **    Java  coffee  %  42/, 
1  lb.  tea, 
14  lbs.  codfish  (^  8^', 


(4 

44 
44 
44 

<( 
(4 


Moses  T.  Woodward, 

To  10  bbls.  flour  (^  $9.00. 

'*  20  bush.  corn.  ~(>a)  75«^, 
**  20  bush,  meal  (x  82'% 

(To  be  p«ia  ill  1«  dayi.) 


Dr. 

$2.75 

17.36 

.40 

1.25 


Dr. 

$2.40 

12.25 

.90 

2.16 

1.40 

1.26 
1.20 
1.12 


Dr. 

$90.rK) 

15.(X> 
16.40 


•>•> 


00 


12      46 


21      76 


69 


121      40 


18,216     16 


12 


14 


15 


SINGLE  ENTRY. 


57 


New  Hampton,  May  10,  1875. 


Amount  forwardy 


18,216     16 


Henry  H.  Sawtelle, 

To  1  bbl.  pork, 
*'  100  lbs.  lard  (^,  13<^, 
"  4  gals,  boiled  oil  %  $1.10, 
"  100  lbs.  Salem  lead  @  13f, 
"  1  paint-brush. 

Dr. 

$21.00 

13.00 

4.40 

13.00 

.  40 

52 
16 

18 
60 

26 

6 
3 

10 

28 
18,436 

15 

James  L.  Davis, 

To  cash  on  private  %, 

Dr. 

00 

George  W.  Howe, 

To  3  bush,  salt  @  70/, 
"  .30  lbs.  clover-seed  @  15,<^, 
"  3  bush,  timothy  seed  @,  $4.00, 

Dr. 

$2.10 

4.50 

12.00 

60 

Henry  H.  Savttelle, 

By  cash  on  % , 

On 

00 

J.  0.  Hancock, 

To  1  bbl.  flour, 
"  4  doz.  eggs  @  20/, 
"  cash, 

Dr. 

$11.75 

.80 
13.50 

05 

Benj.  B.  Webb, 

To  1  gal.  kerosene  oil, 
''  1  box  raisins, 
"  2  gals,  sirup  @  $1.12, 

Dr. 

.30 
3.50 
2.24 

04 

Geo.  W.  Howe, 

To  1  cask  plaster  Paris, 

Dr. 

t 

60 

Benj.  B.  Webb, 

By  cash  on  %, 

James  L.  Davis, 

To  paid  taxes  for  him, 

Cr. 
Dr. 

i 

i 

00 
00 

60 

5S 


18 


19 


21 


24 


BOOK-KEEPING. 


New  Hampton^  May  17,  1875. 


Amount  forward. 


Geo.  W.  Howe, 

To  :]  yds.  tloeskin  @,  $2.00, 
"  2  lbs.  soda  @  8*f, 


Moses  T.  Woodward, 
By  cash  on  % , 

Geo.  W.  Howe, 

By  cash  on  % , 


Cr. 


18,436 

60 

Dr, 

$6.00 
.16 

6 

16 

Cr, 

121 

40 

40     00 


Livingston  Muzzy, 

Dr, 

To  8  yds.  crash  @  20f, 
"  1  table-cover, 

$1.60 
4.20 

5 

80 

COXTBA, 

Cr. 

By  cash  on  %, 

ll 

20 

00 

Moses  T.  Woodward, 

Dr. 

To  1  bbl.  pork, 
"  40  gals,  molasses  @.  62ff 

$21.(K) 
24.80 

45 

80 

26 


28 


Jmv 


Geo.  W.  Howe, 
By  cash  to  balance  %, 

J.  O.  Hancock, 
To  cash, 


Moses  T.  Woodward, 

To  4  gals,  linseed  oil  r^?  SI. 00, 
"  25  lbs.  Salem  lead  (a,  13f , 

Henry  II.  Sawtelle, 

To  50  lbs  dried  apple  @  12/', 
**  1  clothes-line. 

Contra, 

By  cash  on  % , 


Moses  T.  Woodward, 

To  4  casks  Rockland  lime  @,  $1.50, 


Cr. 


Dr, 


Dr. 


Dr, 


10     12 


15     00 


$4.00 
3.25 

7 

25 

Dr. 

$6.00 
.42 

1, 
1 

6 

42 

Cr, 

8 

00 

6     00 


Total  footing  before  the  giin  is  credited  to  the  partnen,  18,728      55 


SINGLE  ENTRY. 


59 


New  Hampton^  May  31,  1875. 


81 


Amount  forward^ 


James  L.  Davis, 

By  one-half  net  gain  for  the  month, 


J.  O.  Hancock, 

By  one-half  net  gain  for  the  month, 


Total  footing  after  gain  is  entered. 


Cr, 


18,728     55 


204     31 


Cr. 


204 


31 


19,137'  17 


I  ' 


60 


1875. 

May 


4t 
ii 
tt 
tt 
ii 
H 


ii 
ii 
it 
ii 
(t 

ii 


H 
ii 

ii 

n 
(( 
<( 
(( 
(( 
ii 


ii 
<( 
ii 
ii 

(( 
a 
a 


4 

5 
6 

7 
8 


May 


May    17 
18 


19 

20 

21 

22 


May    24 


25 

26 
27 

28 
29 


BOOK-KEEPING. 


Cash 


(Received). 


To  James  L.  Davis's  investment, 
"  J.  O.  Hancock's 
cash  sales  this  day, 


a 


n 
it 
it 
it 
a 
it 


t( 


(( 


rec'd  for  old  iron  sold, 
sales  this  day. 


it 
ti 
tt 


ii 
ti 
tt 


a 
(( 


it 
ti 


To  balance  from  last  week, 
rec'd  for  sales  this  day. 


10 

To 

bal 

rec 

11 

12 

13 

14 

15 

(( 


i( 


tt 


of  H.  H.  Sawtelle  on  ^, 
for  sales  this  day, 


tt 
tt 


tt 

ii 


ii 
a 


ii 
a 


of  B.B.  Webb  on  %, 
for  sales, 


To  balance  from  last  week, 
sales  this  day, 

rec'd  of  M.  T.  Woodward  on  %, 
"     for  sales  this  day, 


tt 

a 
it 
ii 
ti 
it 
tt 
tt 
tt 


tt 
tt 
tt 
<t 
ft 
tt 
(( 


tt 


tt 


of  Geo.  W.  Howe  on  %, 
for  sales  this  day, 
of  L.  Muzzy  on  %, 
for  sales  this  day. 


tt 


tt 


tt 


tt 


To  balance  fmm  last  week, 
"  cash  sales^his  day, 


**  rec'd  from  Geo.  W.  Howe  on  %, 
'*     for  sales  this  day, 


it 
it 
ii 
it 


ti 

a 
ti 
tt 


tt 
tt 


t. 
It 


tt 
tt 


it 
tt 


of  H.  H.  Sawtelle  on  %, 
for  sales  this  day. 


May    81     To  balance  from  last  week, 


Dr. 


3,000 

1,666 

16 

28 

14  28 
33  00 
28    50 

39    00    4,824    78 

1  4,824    78 


31 

00 

27 

00 

60 

00 

29 

00 

32 

00 

41 

00 

10 

00 

34 

00 

608 

11 

264 

00 

872 

11 

775    86 


28  00 

121  40 

36  00 

31  00 

40  00 

14  00 

20  00 

28  00 

42  00 

360 

40 

1,136 

26 

566 

65 

18  00 

10  12 

39  1  00  il 

1 

42  00 

47  00 

8  00 

51  00 

215 

12 

781 

77 

724    77 


SINGLE  ENTRY, 


61 


Cash  (Paid). 


Cr, 


1875. 

May 

4 

It 

tt 

6 

ti 

If 

8 

ti 

May 

10 

tt 

12 

(( 

ti 

u 

15 

1 

May    19 


By  paid  for  carpenters  for  repairing, 
»      "      "   lumber         "  " 

**  amount  paid  J.  L.  Davis  for  merchan- 
dise bought  in  Boston  as  per  bills 
receipted  and  his  expenses. 
By  paid  for  drayage, 
*^    «     freight  bill, 


6    25 

2,  87 


4168    37  11  ; 

7    00 'H 
32    18     4216    67 


By  paid  J.  L.  Davis  on  private  %, 
"    for  confectionery, 

*'  pocket  cutlery  of  peddler, 
J.  O.  Hancock  on  private  %, 
taxes  for  James  L.  Davis, 


tt 

tt 

(t 

ii 

t( 

tt 

ti 

tt 

By  p'd  bill  mdse.  b't  of  Johnson  &  Hicks, 
for  freight  and  drayage. 


tt   tt 


May    24     By  paid  J.  O.  Hancock, 

*'      28       "      "    for  wood, 

((     29      "     "     "    clerk  hire, 


■JilJlii.  Ciiijll' 


4824  78 


16  00 

11  75 

27  00 
13  50 

28  00 


561  00 
8  61 


15  00 

8|  00 
34  00 


96  25 


872  11 


569  61 


tja 


1136  26 


57  00 


TI 


781  77 


m 


#, 


62 


I 


?' 


I 


BOOK-KEEPING. 


LEDGER. 

u>»e  a  separate  account,  called  a  private  account    ,„  ,„i,-  .     ,, 
the  items  of  a  nartnpr  «..»„.      j    i^'ivare  account,  in  which  all 

the  ledger  L  cCr^.         ""'*'^'* ''"""^  the  month;  and,  when 

ner's  accent    Tlhir         r^""'  "  '''''^^''  '"««  ^-^^  P-*- 
use  Of  theTLe  actn?™  "^  '"'^  "•°"^''*  ^^*  "»*  ^  -"^'e 

INVENTORIES. 

^    In  actual  business  there  would  be  an  inventory  of  merchandi^P 
invested  bv  J   O   Win/>r.«ir    „  ^     i  ^       "lercnanaise 

maininr  iJLj.  ^"""^^^J  "f  "'«»  ""^  of  the  merchandise  re- 

DC  ascertamed  by  taking  an  account  of  stock  remaining  unsold  at 
the  time,  usually  at  cost.  '"'"ing  unsold  at 

We  have  given  a  form  for  an  inventory  in  the  JX.  Examnle  •  h„t 
where  no  inventory  is  eiven   tl.o  „,«„.  \.  ■  example ,  but 

reearri  tn  n„,„i,  ^  ,      '  "'°""'  '*  assumed  without  any 

i^rd  to  purchases  or  sales.     The  amount  of  merchandise  in  thi 
Wa.ce  account  cannot  be  ascertained  from  any  data  in  the  text 


SINGLE  ENTRY. 


63 


Dr, 

James  L.  Davis. 

Cr. 

1875. 
May  10 
"    15 

To  cash, 

- '  •  balance, 

07 
07 

16 

28 

00 
00 

31 

1875. 

May  3 
"    31 

By  investment, 
•'  net  gain, 

By  balance, 

66 

67 

9,000 
204 

31 

9,204 

31 

9,204    31 

iittinii 1 ...,_ 

y—— 

June  1 

9,160 

31 

Dr, 


J.  0.  Hancock. 


Cr. 


1875. 
May  12 
•'    24 

To  sundries, 
"  cash, 

1 

67! 
68 

26 
15 

1 

05 
00 

20 

1   1875. 
May  3 
"    31 

! 

By  investment, 
"  net  gain, 

By  balance, 

\      f 
56 
57; 

\ 

9,000 
204 

31 

9,204 

31 

9,204    31 

June  1 

9,163    26 

Dr. 


Henry  H.  Sawtelle. 


Cr 


1875. 
May  4 
•♦"  10 

"    28 

To  mdse.. 
To  balance, 

66 
67 
68 



37 

62 

6 

85 
15 
42 

]   1875. 
May  12 

"     28 

By  cash. 

By  baJ:anee, 

67 

58 

60 

8 

i-s 

GO 
(K) 

•42 

96 

42 

96 

42 

June  1 

28 

'm 

Dr. 

Benj  B.  Webr 

Cr. 

1875. 
May   5 
"    14 

1 
To  mdse., 

06 

5T 

12 
6 

46 
04 

1875. 
May  15 

M*iy31 

By  cash, 

By  bftlMic*, 

sr 

10 

8 

00 

18 

60 

18    50 

June  1 

8 

60 

Dr. 

( 

jtEO. 

W.  Howe. 

Cr. 

1«75. 
May   5 
♦'     10 
"    15 
"    17 

To  mdse., 

*'  plaster, 
*'  mdse.. 

66 
67 
67 
68 

21 

18 
3 
6 

76 
60 
60 
16 

1875. 
May  19 
"    24 

By  cash, 
"     *•     to  bal., 

68 

68 

40 
10 

00 
12 

fO 

29 

60 

12 

'  *•!•  iii»n«mii»iiiiJi 


ll 


I 


64 


Dr, 


BOOK-KEEPING. 


Livingston  Muzzy. 


1875. 

May  6 

"    21 

Tomdse. 

m 

58 

22     69 
5     80 

28     49 

1875. 
May  21     Bycaah, 

June  1 

To  balance. 

8     49 

Dr. 


Moses  T.  Woodward. 


1875. 
May  8     Tomdse. 

May  24     To  mdse. 


June  1     To  balance, 


5« 

58 

Ml 
68 


Db. 

$44.00 

4i.a5 

96.42 
18.50 
.50.12 
28.49 
121.40 
59.05 

$45aoi 


PROOF-SHEET. 


James  L.  Davis 
J.  O.  Hancock  . 
Henry  H.  Sawtelle  . 
Benj.  B.  Webb 
Geo.  W.  Howe 
Livingston  Muzzy    . 
Moses  T.  Woodward 
Moses  T.  Woodward 


Total  footingt  of  debit  side  of  ledger,  S459.03 

Total  footingi  of  credit  side  of  ledger,     18,209.52 


Total  footings  of  day-book, 


$18,728.55 
$18,728.55 


Or. 


58        20    00 


28    49 


Cr. 


121 

40 

1875. 
May  18 

By  canb, 

56 

121 

40 

45 

7 
6 

80 
25 
00 

59 

59 

05 

05 

59 

05 

Cr. 

$9,000.00 
9,000,00 
68.00 
10.00 
50.12 
20.00 
121.40 


$18,269.52 


This  proof-sheet  should  be  made  before  any  of  the  accounts  are 
closed  in  the  ledger  in  order  to  test  the  correctness  of  the  work. 
Then  a  statement  of  the  assets  and  liabilities  should  be  made,  the 
loss  or  gain  should  be  ascertained,  and  each  partner  should  be 
credited  in  the  day-book  with  his  sliare  of  the  gain,  or  debited 
with  his  share  of  the  loss.  These  entries  should  be  posted  to  the 
proper  side  of  the  partner*s  account,  and  the  ledger  should  then 
be  closed  with  red  ink  balances,  which  should  be  brought  down  on 
the  other  side  of  the  account  as  the  balance  at  the  beginning  of 


SINGLE  ENTRr, 


ASSETS. 


65 


a 


Store  and  fixtures  per  inventory  valued  at 

Merchandise  "  *'  ... 

Cash  as  per  cash-book 

Henry  H.  Sawtelle  owes  on  % 

Benj.  B.  Webb 

Livingston  Muzzy 

M.  T.  Woodward 


n      a 


$6,000.00 

11,494.34 

724.77 

28.42 

8.50 

8.49 

59.05 


Total  assets.  May  31,  1875 $18  323.57 


LIABILITIES. 

James  L.  Davis,  net  capital  May  1  .        .        .        . 
James  L.  Davis  drew  out  during  the  month    . 

James  L.  Davis,  net  capital  May  31,  exclusive  of  gain 

J.  O.  Hancock's  net  capital  May  1   .        ,        .        . 
J.  O.  Hancock  drew  out  during  the  month     . 

J.  O.  Hancock's  net  capital  May  31,  exclusive  of  gain 
Total  net  capital  exclusive  of  gain  .... 


T  *  ■ ''  ■       jj'iiiri    ..... 

J'-  *  *-  '  *  .     .till . 

James  L.  Davis's  net  capital  May  31 

J.O.Hancock's     "        '*        u 


),000.00 
44.00 


.    $8,956.00 


$9,000 
41.05 


8,958.95 


li 


.  $17,914.95 


S'Z04.i.»l 
$.204.31 
$9,160.31 
$9,163.26 


Br. 


Balance  Account. 


Cr. 


1875. 
May  31 


Store  and  fixtures, 

Mdse.* 

Cash, 

H.  H.  Sawtelle, 

Benj.  B.  Webb, 

L.  Muzzy, 

M.  T.  Woodward, 


•  Assumed. 


1878. 
May3l|    ByJ.  L.Davis, 

J.  O.  Hancock, 


9,160;  31 
9,163j  26 


the  next  month. 


155.  What  are  assets? 

All  kinds  of  property  owned  by  the  proprietor  or  proprietors, 
such  as  real  estate,  merchandise,  stocks,  bonds,  notes,  and  per- 
sonal accounts. 

156.  What  are  liabilities  ? 

All  debts  due  others  on  notes  or  accounts,  and  the  net  capital. 


!«■ 


66 


BOOK-KEEPING. 


157.    What  is  the  net  capital? 

The  net  capital  is  the  difference  between  the  assets  and  liabili- 
ties Hence  the  total  assets  must  equal  the  Uabilities  after  the 
gain  is  closed  into  the  partner's  account,  if  the  work  is  correct. 

158  Why  is  net  capital  a  liability? 

Because  the  business  owes  the  net  capital  to  the  proprietors. 

159  Whatis  the  balance  account? 

An  account  in  which  are  entered  the  assets  and  liabilities  The 
assets  are  entered  on  the  Dr.  side,  and  the  habilities  on  the  Ci. 

side. 

160  Why  should  this  account  always  balance? 

Because  the  assets  and  liabilities  are  always  equal  when  the  loss 
or  gain  is  properly  closed  into  the  partner's  account. 

161.  What  is  the  use  of  the  balance  account  I* 

It  is  a  test  of  the  correctness  of  the  closing  of  the  ledger,  while 
the  proof-sheet  is  a  test  of  the  correctness  of  the  posting. 

162.  What  would  be  necessary,  if  at  any  time  one  of  the  part- 
ners  should  wish  to  retire  from  the  business? 

Close  the  ledger  as  above,  pay  him  his  net  capital,  debit  him 
with  the  amount,  and  balance  his  account. 

163.  What  would  be  necessary  in  order,  at  any  time,  to  receive 

a  partner  into  the  firm? 

Close  the  ledger  as  above  ;  let  the  new  partner  pay  any  amount 
agreed  upon  by  him  and  the  other  parties ;  credit  him  with  the 
same  ;  and  continue  the  business  as  before. 


SINGLE   ENTRY. 


67 


EXAMPLE  YIII. 

May^,  1875.  —  William  A.  Bailey  and  John  K.  Soraers  enter 
into  partnership  under  the  firm  name  of  Bailey  &  Somers,  as 
dealers  in  furniture  and  carpets.  William  A.  Bailey  invests 
mdse.  valued  at  S7,862,  and  cash  amounting  to  $1,138.  John  K. 
Somers  invests  his  store  valued  at  $3,000,  and  cash  $6,000. 

Jfay4.  —  Paid  for  set  of  books,  and  other  expenses,  $27.32. 
Sold  Charles  O.  Ramsey  on  %,  1  sofa,  $42.00 ;  4  parlor  chairs,  Co) 
$5.00 ;  1  marble-top  table,  $28.00.  Received  cash  for  sales  this 
day,  $18.00. 

May  5.  —  Received  cash  for  sales  this  day,  $21 .00. 

May  6.  —  Paid  for  bill  of  mdse.  bought  in  Boston,  $7,014.12. 
Sold  Jacob  S.  Coombs  on  %,  1  black-walnut  chamber  set,  $72.00. 
Received  cash  for  sales  this  day,  $31.00. 

^  May  7.— Paid  for  freight,  $37.41.  Paid  for  drayage,  $8.12. 
Sold  Damon  G.  Usher  on  %,  25  yds.  Brussels  tapestry  carpeting, 
(a)  $1.20;  28  yds.  ingrain  carpeting,  (a)  50^;  30  yds.  4-4  straw 
matting,  (a)  20^.     Received  for  cash  sales,  $18.50. 

3fai/ 8.  — Charles  O.  Ramsey  has  this  day  paid  cash  on  %, 
$40.00.  Sold  Jacob  S.  Coombs  on  %,  1  doz.  common  chairs, 
$7.00;  1  rocker,  $4.50.  Sold  Mrs.  Mary  S.  Walker  on  %,  42 
yds.  velvet  carpeting,  (a)  $4.00 ;  18  yds.  straw  matting,  (a)  30^. 
Received  cash  for  sales  this  day,  $62.00. 

May  10.  —Sold  Charles  O.  Ramsey  on  %,  1  book-case,  $29.00. 
Paid  John  K.  Somers  cash  on  private  %,  $14.00.  Received  cash 
of  Jacob  S.  Coombs  on  %,  $75.00.  Received  for  sales  this  day, 
$13.75. 

May  11.  —  Received  cash  for  sales  this  day,  $42.00. 

May  12.  — Sold  E.  W.  Lawrence  on  %,  1  cottage  bedstead, 
$4.50;  1  what-not,  $13.60;  1  black-walnut  extension  table, 
$19.00.  Sold  Abel  Tyler  on  %,  24  yds.  stair-carpeting,  (a)  62^  ; 
1  hall-mat,  $3.50  ;  1  crumb-cloth,  $9.00.  Received  cash  for  sales 
this  day,  $32.00. 

May  13.  — Cash  received  for  sales  this  day,  $81.00. 
3fay  14.  — Received  cash  on  %  of  Charles  O.  Ramsey,  $50.00. 
Sold  Damon  G.  Usher  on  %,  1  parlor  suit,  $200.00.     Paid  W.  A. 


I 

■"'"TiBiiiiiiii 


68 


BOOK-KEEPING. 


BaUey  cash  on  private  %,  819.00.    Keceived  for  sales  this  day, 

846.00. 

May  15.  —  Cash  sales  this  day,  $81.00. 

J»f««  17. -Sold  Jacob  S.  Coombs  on  %,  1  doz.  d.ning  chairs, 
®  83.00  each ;  1  wardrobe,  $32.00.     Received  cash  for  sales  this 

da}',  $43.00. 

May  18.  -  Beceived  cash  for  sales  this  day,  837.50 

Mav  19.  -Received  of  Damon  G.  Usher  on  %,  $50.00.  Sold 
Mrs.  Mary  S.  Walker  on  %,  1  bureau,  $36 ;  1  Pl"*  P''^l<''-.f  ;^*' 
$238.00;  1  doz.  dining  chairs,  ®  $3.00  each.  She  pajs  us 
$200.00  on  %.    Cash  received  for  sales,  $91.00. 

May  20.— Received  for  sales  this  day,  $44.00. 

J»faw21.-Sold  Abel  Tyler  on  %,  1  chamber  set,  $71.00;  1 
washitand,  $5.00  ;  1  music-stool,  $5.00.  ^oX^.^' ^^  l^H^^'^, 
yds.  bocking,  (a)  $1.50;    26  yds.  stair-carpeting,  ®  $1.30.     Ke 

ceived  cash  for  sales,  $40.00.  a/    ti  i  in 

J»fa«22.-Paid  John  K.  Somers  on  P"^^^^  ^'J^^-f' 

ceived  of  Charles  O.  Ramsey  cash  to  balance  %,  $-29.00. 

received  for  sales  this  day,  $62.00.  uppeived 

mv  -24.  -Received  cash  for  sales  this  day,  $67.00.    Received 

of  Jacob  S.  Coombs  on  %,  $50.00.  „,_„„     i 

01  oauou.-..  /<-         TT.up,.  nn  W.    1  bureau,  $17.00 ;  1 

Jlfaw  25.  —  Sold  Damon  G.  Ushei  on    Xc' ^  ,„  „  „/ 

sintJs.OO  ;  1  bracket,  $3.00.  Sold  Mrs.  Mary  S  Walker  on  %, 
1  lounge,  $36.00.     Received  cash  for  sales,  «69.00 

May  26.  — Cash  received  for  sales  this  day,  $a.0U. 

May  27. -Received  cash  for  sales  this  day,  $82.00. 

Mav  28. -Paid  William  A.  Bailey  cash  on  private  %,  $13.7o. 
Received  of  Abel  Tyler  on  %,  cash,  $60.00.     Received  cash  for 

sales,  $87.00.  . ,    „  •        «7  An 

3f;v29.-Paid  clerk-hire,  $36.00.  Paid  f<";  .-^f"^'  JJ-J"" 
Sold  Abel  Tyler  1  sofa,  $42.00.     Cash  for  sales  this  day,  $104.00. 


Re- 
Cash 


\ 


SINGLE  ENTRY. 


PROOF-SHEET. 


$32.75 

25.50 
119.00 
151.50 
278.00 
519.40 

84.40 
150.38 


$1,360.93 


$1,360.93  total  debits  of  the  ledger. 
18,554.00  total  credits  of  the  ledger. 


$19,914.93  total  debits  and  credits. 
19,914.1)3  total  footing  of  day-book. 


Balance  Account. 


69 


William  A.  Bailey . 

.      $9,000.00 

Jolin  K.  isomers     ... 

9,0(10.00 

Charles  O.  Kamsey 

119.00 

Jacob  S.  Coombs    .        ,        .        . 

125.00 

Damon  G.  Usher    . 

50.00 

Mrs.  Mary  S.  Walker     . 

200.00 

E.  W.  Lawrence     .        ,        .        , 

000.00 

Abel  Tyler 

60.00 

$18,554.00 


1875. 
May  31 

To  Store, 
"  Mdse.* 
•♦  Cash, 

"  J.  S.  Coombs, 
"  D.  G.  Usher. 
«  Mrs.  M.  S.  Walker, 
**  E.  W.  Lawi-ence, 
«  Abel  Tyler, 

•  Assumed. 

3,000 

13,074 

1,750 

26 

228 

319 

84 

90 

00 

82 

53 

50 

00 

40  \ 

40 

38 

1875. 
May  31 

By  W.  A.  Bailey, 
"  J.  K.  Somers, 

9,283 
9,290 

1* 

39 
G4 

18.074 

m 

18,574 

03 

:  f  i 


FIFTH    FOKM. 

The  previous  forms  arc  designed  for  farmers,  meclianics,  and 
retail  dealers.  The  fifth  is  designed  for  wholesale  merchants,  or 
retail  dealers  doing  a  more  extensive  business.  In  addition  to  the 
books  employed  in  the  fourth  form,  a  sales-book,  an  invoice-book, 
and  a  bill-book  are  introduced.  The  use  of  each  will  be  explained 
in  the  proper  connection. 

The  ninth  example  represents  the  business  transactions  of  Dan- 
iel G.  Moody  and  William  T.  Collins,  who  have  united  their  capital 
and  interest  in  a  wholesale  and  retail  flour  and  grain  trade,  under 
the  firm  name  of  Moody  &  Collins. 


70 


BOOK-KEEPING. 


EXAMPLE  IX 

The  record  of  the  transactions  of  this  example  will  be  omitted 
for  the  same  reason  as  before. 


i 


INVOICE  -  BOOK. 

164.  What  use  is  made  of  the  invoice-book? 

Tiie  invoice-book  should  contain  a  record  of  all  merchandise  on 
hand  at  the  commencement  of  business,  and  all  merchandise 
bought. 

165.  How  should  the  invoice-book  be  ruled? 
Like  a  ledger  of  the  second  form. 

166.  What  should  be  written  on  the  first  horizontal  line? 
The  same  as  in  the  day-book  of  third  form. 

167.  What  should  be  placed  in  the  first  column  ? 
The  date. 

168.  What  in  the  second  column  ? 

The  page  of  the  several  books  to  which  the  ti-ansactions  ai*e  to 
be  transferred,  with  red  ink. 

169.  What  in  the  third  column? 
Transactions. 

170.  Fourth  and  fifth? 
Short  extensions. 

171.  Sixth  and  seventh? 
Full  extensions. 

Some  book-keepers  prefer  to  make  use  of  a  separate  book  for 
tlie  inventory  of  merchandise  on  hand,  instead  of  inserting  it  in 
the  invoice-book.  This  is  probably  the  better  method.  The  other 
form  will  be  shown  in  Part  II. 

The  articles  bought  and  sold  in  this  example  are  of  such  a 
nature  that  they  can  be  easily  traced.  The  learner  will  ascertain 
if  the  inventory  at  closing  is  correct. 


SINGLE  ENTRY. 


71 


10 


14 


New  Hampton.,  N.II.,  June  1,  1875. 


[Inventory  of  Merchandise  invested  by  Dan- 
iel G.  Moody  in  the  firm  of  Moody  & 
Collins.] 


10  bbls.  St.  Louis  ch.  ex.  flour  @  $10.00, 
medium  ex.  flour  («)  $8.00, 
extra  flour  (a),  $7.00, 
Western  superfine  flour  @  $5.50, 
Southern  extra  flour  @  $6.50, 

"       choice  ex.  flour  @,  $8.00, 

80  bush,  white  wheat  @  $1.90, 

30 

154 

130 

310 

200 


12 
15 
40 
30 

20 


(i 


(4 


it 


barley  @  $1.50, 
Southern  corn  @  77/, 
Western  yellow  corn  @  75/, 
oats  @,  .60, 
rye  @  $1.00, 
8  tons  shorts  (S)  $20.00, 

3  •'     fine  feed  @  $21.00, 

4  "     middling  @  $23.00, 

d' 


Bought  o/E.  P.  Prescott  &  Co.,  Concord,[ 

20  bbls.  Baltimore  flour  r^)  $10.00,  | 

10    "      rye  flour  @  $6.00, 

3      "     oatmeal  @  $7.00,  | 

1000  lbs.  buckwheat  flour  @  3/, 

400  bush.  Southern  white  com  @  80/, 


Bought  of  Thaxtee,  Shaw,  &  Co. 


100  bbls.  St.  Louis  flour  @  $9.50, 
100    "     Southern  extra  @,  $6.25, 
200  bush.  Western  white  corn  @  70/, 
100     "     oats  @  62/, 


Bought  of  E.  P.  Prescott  &  Co. 

400  bush.  Southern  mixed  com  @  70/, 

100    "     barley  @  $1.50, 

100  bbls.  Genesee  flour  @  $8.00, 


Amount  forward. 


100 

96 

105 

220 

195 

100 

152 

45 

118 

97 

186 

200 

160 

63 

92 


200 
60 
21 
.30 

320 


950 

625 

140 

62 


280 
150 
800 


58 
50 


1,990  08 


631 


1,777! 


1,230 


5,628  08 


'2 


BOOK-KEEPING. 


SINGLE  ENTRY. 


73 


''i( 


New  Hampton^  June  24,  187t5, 


Amount  brought  forward^ 

400 

tHH) 

5,628 

i,;joo 

0.1  »28 

08 

Bought  of  E.  P.  Pkescott  &  Co. 

500  biisli.  corn  meal,  (Sj  SOf, 
100  bbls.  flour  (a),  $9.00, 

Total  invoice  of  the  inontii, 

\Inventoryi  ofMdse.  remaining  unmld  at  the 
clone  of  the  month.  |                        ■ 

OS 

280 

320 

240 

800 

891 

80 

42 

69 

21 

i 
t 

2,743  ' 

400  bush.  Soutliern  mixed  corn  f"  70*% 
400    "      corn  meal  ("  80c^', 
300    '*      Southern  white  corn  @  80<', 
100  bbls.  Genesee  flour  @  $8.00, 
09    "          "            "     ©$9.00, 
4  tons  shorts  (a^,  $20.00, 
,2    "     fine  feed  @-  $21.00, 
3    "     middling  C",  $23.00, 
700  lbs.  buckwheat  flour  @  3'', 

The  inventory  of  merchandise  on  hand  June  1,  is  entered  first 
in  the  invoice-book.  At  the  bottom  of  the  entry,  on  the  right 
hand,  is  written  *'  investment  of  D.  G.  M.,"  with  red  ink,  to  show 
from  whom  it  was  received.  At  the  left  "  day-l»ook  "  is  written 
to  show  to  what  book  it  is  transfen-ed  ;  in  the  second  column,  the 
page  of  the  book  to  which  it  is  transferred.  When  merchandise 
is  bought  on  a  note,  it  is  transferred  to  tlie  bill-book ;  when  for 
cash,  to  the  cash-book  ;  when  on  account,  to  the  day-book.  For 
convenience  we  have  inserted  in  the  invoice-book  the  inventory  of 
merchandise  remaining  unsold  at  the  close  of  the  month.  The 
amount  should  be  transferred  to  the  balance  aeeouiit. 


-J 


3 


0 


12 


SALES-BOOK. 
New  Hampton,  NH,,  June  2,  1875. 


i  I 


Nti 


I  Sold  Edwin  K  Cate. 

10  bbls.  extra  St.  Louis  flour  ^i  $8.00, 
100  bush.  Southern  corn  (w,  84^, 
50     •'       oats^eSf*, 
1 2  tons  shorts  @  $22.00, 


Sold  F.  L.  Wiley. 

!  20  bbls.  Southern  ex.  flour  @>  $7.00, 
40  bush,  rye  @  $1.10, 
50    "     Western  yellow  corn  @  80«^, 


Sold  George  F.  Sherburne. 

10  bbls.  cli.  ex.  St.  Louis  flour  (n^  $11.00, 
10    "     Western  superfine  flour  @  $6.00, 
20  bush,  white  wheat  @  $2.00, 
1  ton  fine  feed, 
I  bbl.  oatmeal, 

(IV 


Sold  John  J.  Harper. 


m  $8.00, 
"    @  $7.00, 


12  bbls  St.  Louis  medium  flour  @  $9.00, 

5      '*         "  extra         *'    ^  *o  aa 

10    "     Southern    '' 

15  bush,  barley  (a)  $1.60, 

100    *'     southern  white  corn  (m  90f, 

C I >■"•"•  f"-'f'ft,.  —  lii  (lays  on  *; .) 


Sold  Cyrus  S.  Korman. 

30  bbls.  western  super,  flour  (a)j  $6.00, 

20    "    Southern  ch.  ex.  @  $9.00, 

100  bush,  oats  (a)j  10^, 

54      "      Southern  corn  @  80/, 

15   "   barley  @  $1.60, 

60   "   white  wheat  @,  $2.00, 

( «iii-book.  ~  Not©  at  10  days., } 


80 
84 

32  .50 
44. 


108 
40 

7b 

24 
90 


180 

180 
70 
43 
24 

120 


20 


240  50 


140 

1       I 

•    44    I        1 

40 

j 1) 

1  110 

!  1' 

•1 

60 

40 

25 

•      5    1 

1,           ' 

1 

224 


240 


332 


617  20 


74 


16 


22 


BOOK-KEEPING. 


New  Eampton,  Ji^ne  14,  1875. 


Amount  brought  forward^ 


Sold  JosiAH  H.  Conner. 

50  bbls.  St.  Louis  flour  (4  $10.00, 

50    "     Southern  extra  flour  On  $6.75, 


Sold  Edwin  F.  Catk. 

80  bush.  Western  yellow  com  @  W, 
100    "    rye  @  $1.10, 
200    "     oats  @  65f , 
2  tons  shorts  @  $24.00, 
10  bbls.  rye  flour  @  7.00, 
20    **     Baltimore  flour  @  $11.00, 
i  1  bbl.  oatmeal. 


■1 

500 
3:57 

110 

130 
48 
70 

220 
8 

50 

Sold  William  T.  Collins. 

1  bbl.  flour, 
^   "    oatmeal, 


(Private  %.) 


9 
5 


1,658   70 


a37   50 


650 


14 


28 


80 


Sold  Alden  F.  Fuller. 

60  bush,  oats  @  70^, 

60    "     rye  @  $1.10, 

1  bbl.  oatmeal, 

300  lbs.  buckwheat  flour  @  4/ , 

1  ton  middling, 


Sold  Henry  M.  Ames. 

200  bush.  Western  white  com  (^  80f , 
50  bbls.  St.  Louis  flour  (a}>  $10.00, 
50    "     Southern  extra  flour  @  $7.00, 
100  bush,  barley  (a),  $1.62, 
100    "     corn  meal  (a)  90<^, 


Total  sales  for  the  mouth, 


42 

66 

9 

12 


25 

1' 

154 

160 

500 

350 

162 

90 

1,262 

4,571 

20 

SINGLE  ENTRY. 


75 


172.  What  use  is  made  of  the  sales-book? 

The  sales-book  should  contain  a  record  of  merchandise  sold. 

173.  How  should  {he  sales-book  be  ruled? 
Like  the  invoice-book. 

174.  How  should  the  entries  be  made  ? 

Like  those  in  the  invoice-book ;  only  the  third  column  should 
contain  merchandise  sold,  instead  of  merchandise  bought. 

Some  book-keepers  prefer  to  post  directly  from  the  invoice-book 
and  sales-book,  rather  than  transfer  the  entries,  and  post  the 
results.  In  order  to  illustrate  both  methods,  we  adopt  this  form 
in  single  entry,  and  the  other  in  double  entry.  The  learner  should 
thoroughly  understand  both  methods.  In  actual  business  he  can 
use  either. 


I 


76 


BOOK-KEEFiNG. 


DAT-BOOK. 

What  transactions  should  be  entered  in  the  day-book  of  this 

^''™'  .    .       A       „  n»M  out  on  ««Hmt,  should  be  entered 

Cash  received,  and  cash  paid  out  on  nooonm,  su  . 

to  the  daybook  and  cash-book ;  merchandi^  ^'V"  . TS 
luld  Jentered  in  the  invoice-book,  and  then  ta^nsfened  to  t^e 
day-book ;  merchandise  sold  on  account  should  be  enter^  n  the 
Ses-book,  and  then  transferred  to  the  ^^^  f^^  ^^^^^^ 
liabilities  of  the  partners,  except  net  «y*^' *°"'^^^:^°''i;l  j 
the  day-book  when  the  books  are  opened  :  and  the  net  gain  shouw 

be  entered  when  they  are  closed.  ^     .  ,  ^   ,,^.,.     xheu- 

Charles  Gray  and  John  J.  Harper  owe  Darnel  G.  Mood.  The"- 
accounts  are  in  Daniel  G.  Momly's  books,  not  given  >■>  th.s  t.ea- 
tise  The  agreement  is,  that  they  shall  pay  the  balances  due  Darnel 
G  Moody  to  the  firm.  He  therefore  credits  them  or  enough  to 
Wance  tLir  accounts  in  his  old  books,  and  debits  them  for  the 
1„.!L  in  the  books  of  the  firm.  Moody  is  also  credited 
same  amounU,  m  the  ^^  ^  ^j^j   ^„d  Cooler 

for  the  same  amounts.     William  i.  v^oiimo  « 
and  Connor  are  credited  for  like  reasons. 


/ 


2 


SINGLE  ENTRY. 


New  Hampton^  N.H,,  June  1,  1875. 


82 


o2 


Daniel  G.  Moody,  Cr, 

By  mdse.  per  Invoice  Book, 
"  Peter  C.  Snow's  note  and  int.  per  B.  B. 
"  Charles  Gray,  due  on  %, 
"   John  J.  Harper,  due  on  %, 
"  cash, 


William  T.  Collins, 

By  store  and  fixtures  invested, 
"  cash  hivested, 


Cr. 


CO 


9f> 


CONTKA,  D7 

To  Edwin  F.  Cate,  balance  due  him  on  %, 
"  Josiah  H.  Conner,   *'  "  '^ 

"  Leonard  Cooper,     "  "  " 


Charles  Gray, 

To  amount  due  D.  G.  Moody, 


Dr. 


John  J.  Harper,  Dr. 

To  amount  due  D.  G.  Moody  on  his  in- 
vestment, 


Edwin  F.  Cate,  Cr. 

By  amount  due  from  W.  T.  Collins,  as- 
*  sumed  by  firm. 


Josiah  H.  Conner,  '  Cr. 

By  amount  due  from  W.  T.  Collins,  as- 
sumed by  firm, 


Leonard  Cooper,  Cr. 

By  amount  due  from  W.  T.  Collins,  as- 
sumed by  firm. 


Edwin  F.  Cate,  Dr, 

To  bill  mdse.,  (Sales-Book,  page  73), 


O-J 


E.  p.  Prescott  &  Co.,  Cr, 

By  bill  mdse.,  per  Invoice  Book, 


Josiah  H.  Conner, 
To  cash  to  balance  %, 


Dr. 


Amount  forward. 


1,990!  08 
6041  60 
163 
132 ! 

1,110  32 


2,800 
1,600 


160 
140 
100 


77 


4,000 


4,400 


400 


163 


132 


160 


140 


100 


240 f  50 


631 


140 


10,506 


50 


I    I 


78 


9 


11 


12 


14 


14 


17 


19 


BOOK-KEEPING. 


New  Hampton^  June  7,  1875, 


SINGLE  ENTRY. 


79 


Am(mnt  brought  forward^ 

Leonard  Cooper, 

Dr. 

To  cash  to  balance  %, 

John  J.  Harpee, 

Dr. 

To  bill  mdse.  per  Sales-Book, 

William  T.  Collins  (private  %), 

Dr. 

To  cash  on  private  %, 

Daniel  G.  Moody  (private  %). 

Dr. 

To  paid  gas  bill  for  him, 

JosiAH  H.  Conner, 

Dr. 

To  mdse.  per  Sales-Book, 

E.  P.  PREscorr  &  Co., 

Dr. 

To  cash  to  balance  %, 

John  J.  Harper, 

Cr. 

By  cash  on  %, 

Daniel  G.  Moody  (private  % ), 

Dr. 

To  cash  on  %, 

Amount  forward, 


10,506 


60 


100 


332 

32 

17 
837    50 
631 
400 

13 

I 

12,869    00 


New  Hampton^  June  22,  1875. 


Amount  brought  forward. 


William  T.  Collins  (private  %),  Dr. 
s.;  1        To  bill  mdse.  per  Sales-Book, 


23         JosiAH  H.  Conner, 

By  cash  on  %, 


Cr. 


28  William  T.  Collins  (private  %),  Dr. 

To  cash  on  ^, 


Total  footing  of  Day-Book, 


Daniel  G.  Moody, 

By  3^  net  gain  for  month, 

William  T.  Collins, 
By  3^  net  gain  for  month, 


Cr. 


Cr 


Total  footing,  including  net  gain. 


12,869    00 


14 


700 


17 


13,600 


14    59 


14    59 


13,629    18 


150 


BOOK-KEEPING. 


SINGLE  ENTRY. 


81 


l^ASH. 


Dt 


Cash. 


Cr, 


' 1875.  1 

June 


3 
16 
10 

23 

25 

30 


i 


To  amount  invested  by  Daniel  G.  Moody, 
«         »  "  Wm.  T.  Collins, 

rec'd  of  F.  L.  Wiley  per  sales-book, 
"     of  E.  F.  Gate,  per  sales-book, 
"     for  P.  C.  Snow's  note, 
"     of  J.  J.  Harper  in  full  of  %, 
"     for  G.  H.  Sherburne's  note, 
"     of  J.  H.  Conner  on  %, 
"     of  C.  S.  Norman  in  full  for  note, 
"     of  Henry  M.  Ames,  per  S.  B. 


July     1  I  To  balance  from  last  month, 


1,110 
1,600 
224 
650 
606 
400 
240 
700 
617 
1,262 


80 


20 


7,409 


1875. 
June 


82 


7,409'  82 
3,094    19 


1 

5 

7 

10 

11 

14 
19 
26 
28 
30 


I 


* 


(( 

it 
(( 
(( 


By  paid  for  set  of  books,  26 

J.  H.  Conner  on  %,  140 

Leonard  Cooper  on  %,  100 

Thaxter,  Shaw,  &  Co.  per  I.  B.  !'  1,777 
Daniel  G.  Moody's  gas  bill,  17 

W.  T.  Collins  on  private  %,  32 

E.  P.  Prescott  &  Co.  on  %,  631 

D.  G.  Moody  on  private  % ,  ;  13 
note  favor  of  E.  P.  Prescott  &  Co,  \  1,230 
W.  T.  Collins  on  private  %,        \\       17 


25 


clerk  hire, 
freight  bill, 
sundry  expenses. 


By  balance  on  hand, 


75 
247 
10 


38 


4,315 


63 

19 


7,409   82 


.iiiSiiiiili 


|i 


i  4 


82 


I)r 


BOOK-KKEPING. 


(Assets.) 


Balance  Account.       (Liawimes.)       Or. 


1875. 
June  1     Toindse., 

"  P.  C.  Snow's  note, 

"  Cha'8  Gray's  %, 
"  J.J.Hart>er's'^.. 
"  store  and  tixt're, 
"  cash, 


1875. 

1,990 

08 

June  1 

604 

60 

1 

163 

! 

132 

2,8(M) 

2,710 

32 

8.400 

"  J.  H.  Con II 
"  L.  Cooper 
•'   1).  G.    MiKxly's 

net  investm't, 
"   VV.  T.  CoUins's 

net  inventiu't, 


Dr. 


Daniel  G.  Moody. 


1875. 
JuneSO   To  private  %, 


83         30 
4,014    59 


Br. 

1875. 
June  1    To  am't  assumed,      77        400 
"    30     '*  private  %,  83         63 


William  T.  Collins. 


4,414    59 


1875. 

June  1    By  Investment, 
'*  30     "   net  gain, 


July  1    By  balance, 


Dr. 


Charles  Gray. 


1875. 
June  1    To  bal.  due  D.  G. 

Moody,  77 


1875. 


July    1    To  balance, 


Br. 

1875. 
June  1    To  am't  due  D.  G. 

Moody, 


163 
163 


John  J.  Harper. 


77 


132 


I8T5. 
June  17   By  cash, 


**      9   To  mdse.  per  S.  B.     qg       ^2 

464 

64 


July.   1    To  balance. 

Br. 


Edwin  F.  Cate. 


160 
140 
100 

! 

4,000 

4,000 

8,400 

Cr. 


18T5. 
June  1 
"   30 

July  1 

By  investment, 
**   net  gain, 

By  balance, 

77 
79 

4,000 
14 

4,014 
3.984 

59 

59 

59 

Or. 


77 

79 

4,400 
14 

59 

4,414 
3,0&1 

59 

39 

Or 


Or 


78        400 


464 


Or 


1875.  ^*^75. 

June  2    To  mdse.  Sales-B'k,  77        ii-tO    50     June  1    By  aiif  t  due  from 

yf.  T.  c,  *  * 


July    1    To  balance, 


240    50 
80    50 


160 


240    50 


Br. 

1875. 
Junes 


To  cash  to  bal. 


Junel4    To  mdse.  S.  B. 


Julyl      To  balance, 


Br. 


1875. 
June  7    To  cash  to  bal. 


Br. 

1875. 
Junel4    To  cash  to  bal. 


Br. 

1875. 
Junell 
••    22 
••    28 


To  cash, 
"  mdse 
"  cash, 


Br. 

1875. 

Junel2 
"    19 


To  paid  his  bill, 
"  cash. 


SINGLE   ENTRY. 


JosiAH  H.  Conner. 


77 
78 


1875. \ 

140  June  1     By  am't  due  from 

W  T.  C.  j   77 

837    50     June  23   By  cash, 

837    50 

f 
137    50 


79 


Leonard  Coopei!. 


78 


1875. 
June  1     By  am't  due  from 

W.  T.  C.  77 


E.  P.  Prescott  &  Co. 


1875. 


TS       631  June  4     By  mdse.  I.  B. 


William   T.  Collins. 


(Private.) 


1875. 

78 

32 

79 

14 

79 

i 

17 
63 

Br. 

1875. 
June  30| 


(Assets.)        Balance  Account. 


(Liabilities.) 


To  cash, 

"  store  &  fixtures, 
"  mdse. 

**  ChariesGray, 
"  John  J.  Harper, 
"  Edwin  F.  Cate, 
"  Jos.  H.  Conner, 
"  A.F.Fuller'sn'te 


3,094    19 

June  30 

2,800 

2,743 

163 

64 

80    60 

137    50 

154 

9,236     19 

1875. 

50  B  __ 

P.  P.  &  Co. 
By  Dan'l  G.Moody, 
By  Wm.T.  Collins 


83 

Cr. 

140 
700 

837    50 

f 

Or. 


100 


Or. 


77 

631 

Or. 


* 

63 

:: ir : : i  

Danie 

L  G.  Moody.         (Private.) 

Or. 

78          17 
78          13 

1875. 

30 

30^1 

L 1  ' 

Or. 


1,300 
3,984  59 
3,951  60 


9.236  19 


.-,^:iiiSi;j,ii;.g.a 


n 


I 
I 


u 


BOOK-KEEPING, 


PBOOP-SHEET. 


SINGLE  ENTRY. 


85 


Dm. 

$400.00 
168.00 
464.00 
240.50 
140.00 
a37.50 
100.00 
631.00 
6:3.00 

moo 

$3,069.00 


Daniel  G.  Moody 
William  T.  Collins 
Charles  Gray 
John  J.  Harper    . 
Edwin  F.  Cate     . 
Josiah  H.  Conner 
Josiah  H.  Conner 
Leonard  Cooper 
E.  P.  Prescott  &  Co. 
William  T.  Collins  (private) 
Daniel  G.  Moody 


it 


Cr. 
$4,0(K).00 
4,400.00 

400.00 
160.00 
140.00 
700.00 
100.00 
631.00 


$10,531.00 


Total  footingi  of  the  debtor  dde  of  tlie  ledger,  $.3,069.00 

"         "         •*      credit    "      "         "  10,531.00 

Total  fboting  of  debtor  and  credit  tidei  of  ledger,  $13, 600. 00 

Total  footingi  of  the  day-book,  $13, 600. 00 


ASSETS,  June  30. 


Cash  as  per  cash-book    . 
Store  and  fixtures  valued  at  . 
Mdse.  per  inventory 
Charles  Gray  owes  on  % 
John  J.  Harper  owes  on  %     . 
Edwin  F.  Cate       "        ** 
Josiah  H.  Conner  "        " 
Alden  F.  Fuller  owes  on  note 

Total  assets  June  30, 


$3,094.19 

2,800.00 

2,743.00 

163.00 

64.00 

80.50 

137.50 

154.00 

$9,236.19 


LIABILITIES. 


Note  favor  of  E.  P.  Prescott  &  Co. 
Daniel  G.  Moody  net  capital  June  1 
Daniel  G.  Moody  drew  out  on  private  % 

His  net  capital  exclusive  of  gain    . 
William  T.  Collins' s  net  capital  June  1  . 
Drew  out  on  private  %  . 

His  net  capital  exclusive  of  gain    . 


.    $1,300.00 
.  $4,000.00 
30.00 


.  $4,000.00 
63.00 


3,970.00 


.    $3,9.37.00 


Total  liabilities  exclusive  of  gain  . 

Total  net  ixaiu 

Daniel  G.  Moody's  net  gain    . 
William  T.  Collins's  net  gain  . 
Daniel  G.  Moody's  net  capital  at  closing 
William  T.  Collins's      " 


$9,207.00 

$29.19 

$14.59 

$14.60 

$3,984.59 

$3,951.60 


The  various  amounts  drawn  out  by  the  partners  during  the 
month  are  carried  to  their  private  accounts,  and  at  the  end  of  the 
month  they  are  closed  into  the  partner's  accounts.  Most  book- 
keepers prefer  this  method,  rather  than  the  one  in  the  fourth  form. 

We  also  open  the  ledger,  and  close  it,  with  a  balance  account,  so 
that  the  assets  and  liabilities  may  be  seen  at  a  glance ;  but  the 
balances  are  brought  down  on  the  opposite  side  of  the  account  so 
that  it  will  not  be  necessary  to  open  the  next  month's  business  in 
the  day-book  with  the  assets  and  liabilities  of  the  partners  as 
before. 

NOTES. 

175.  What  is  a  note? 

A  written  promise  to  pay  a  certain  sum  of  money,  on  demand, 
or  at  a  specified  time. 

176.  Who  is  the  maker  of  a  note? 

The  person  who  promises  to  pay.  His  name  should  be  written 
at  the  right  hand,  below  the  body  of  the  note. 

177.  Who  is  the  payee  of  a  note? 

The  person  to  whom  the  amount  of  the  note  is  to  be  paid.  His 
name  is  usually  inserted  in  the  bod}'  of  the  note.  But  his  right 
can  be  transferred  by  a  proi)er  indorsement  on  the  back  of  the 
note.  The  person  who  writes  his  nanie  on  the  back  of  a  note  is 
called  an  indorser. 


I! 


a 


1 

f  ' 
IP 

i 


i 


I 


I  If 


86 


BOOK-KEEPING. 


BILL-BOOK 


WrOTES    AJSTD    BILLS 


No. 

Hiker. 

Payee. 

Date 

1875. 

1 

Peter  C.  Snow, 

f 

Daniel  G.  Moody, 

April 

15 

60  days. 

2 

Geo.  F.  Sherburne, 

Moody  &  Collins, 

June 

5 

10    " 

3 

Cyrus  S.  Norman, 

Moody  &  Collins, 

C( 

12 

10    " 

4 

Alden  F.  Fuller, 

Moody  &  Collins, 

1, 

28 

20 

NOTES    AJSTD    BILLS 


No. 


1 

2 


Alftjtfir. 


.n^ftc. 


Date. 


ms. 


Moody  &  Collins, 
Moody  &  Collins, 


E.  P.  Prescott  &  Co.       June      14 
E.  P.  Prescott  &  Co.  "        24 


Time. 

10  days. 
30    " 


178.  What  is  a  bill-book  ? 

A  bill-book  is  a  book  in  wliieh  a  record  is  kept  of  notes  nnd 
bills  receivable  and  payable,  stating  when  received  or  issued,  when 
due,  when  paid  or  otherwise  disposed  of. 

179.  What  should  be  placed  among  the  bills  receivable? 
Notes  and  bills  received  from  other  parties  by  the  i)roi)rietor. 

180.  AVhat  should  l>e  placed  amoug  the  bills  i)ayable? 
Notes  and  bills  issued  to  other  parties  by  the  proi)rietor. 


SINGLE  ENTRY. 


BILL-BOOK. 


87 


RECIGIVABLE. 


When  due. 

Amount 

When  and  how  disposed  of. 

Year. 

Montb. 

1 

Day. 

[ 

1875        June 

1 
if    ' 

600 

June 

1(> 

Pa:id. 

1875 

(( 

H 

240 

a 

18 

ti 

1875 

it 

U 

617       20 

!■ 

25 

*i 

1875 

July 

i! 

154 

. 

I>A.YABLE. 


When  due. 


iiiiiipny 


Year. 


1875 

1875 


Montli.       BajT' 


June 
July 


Amount. 


?>f       1,230 

-      1 

ft       1,300 


When  and  how  disposed  of. 


June 


Paid. 


181.  How  should  the  bill-book  be  ruled? 

There  are  various  forms.  We  have  adopted  the  above  on 
account  of  its  simplicity. 

182.  What  is  the  meaning  of  the  fractional  forms  in  the  day 

columns  above  ? 

The  upper  figures  denote  the  time  when  the  note  nominally 
becomes  due.  The  lower  ones  denote  the  time  of  the  expiration 
of  the  days  of  grace. 

183.  What  is  meant  by  the  days  of  grace? 

Three  days  allowed  for  payment  of  a  note  after  the  specified 

time  has  expired. 

The  learner  will  find  forms  of  notes,  drafts,  checks,  &c.,  together 

with  additional  explanations  in  Part  II. 


[J 


fi 


ill 
II 


!" 


m     1 


1:11 


it)  I 


,i|| 


m 


BOOK-KEEPING. 


EXAMPLE  X. 


June  1,  1875.  — Charles  Brewer  and  Henry  Sears  enter  into 
partnership  this  day  under  the  firm  name  of  Brewer  and  Sears,  to 
invest  equal  amounts,  and  share  alike  in  the  profits  and  loss. 
Charles  Brewer  invests  merchandise  as  follows :  — 


<( 


40  bbls  St.  Louis  extra  flour 

50 

50 

20 

20 

.MO 

10 

40 


it 
it 


a 


(4 


(( 


medium  flour . 

choice  extra  flour  .    .    . 

Western  superfine  flour . 

"       extra  flour    .     . 

fancy  Minnesota  flour    . 

rye  flour 

corn  meal 


200  bu8h.  wheat 


100 

400 

200 

100 

100 

10 

10 

10 


(( 


barley  .  . 
mixed  corn 
yellow  corn 
oats   .     .     . 


rye     . 
tons  shorts . 
"    fine  feed 
"    middling 


$280.00 
4.50.00 
500.00 
120.00 
140.00 

:m.oo 

50.00 
160.00 
300.00 
175.00 
.360.00 
190.00 

70.00 
120.00 

;joo.oo 
;^o.oo 

.350.00 


Cash  as  pev  cash-book  .    .     .     . 
T.  H.  Wood  owes  him  on  % 
W.  B.  Hazleton  owes  him  on  % 


Total  investment  of  Charles  Brewer  .    . 

Henry  Sears  invests  his  store  valued  at  .    .     . 
Cash  as  per  cash-book  ........ 


The  firm  assumes  to  pay  for  him  the  followinii" 
To  James  Miller  on  %      .... 

'*   J.  G.  Wright     "  

"  Jasper  Goodwin  on  note 


Henry  Sears  net  investinent      .... 


$4,225.00 
2VUM) 
420.  (K) 
130.00 

.    $5,000.(K} 
.   $4,000.00 

$5,600.0(J 


$1(X).00 
240.00 
20O.(M> 


600.  (K) 
.     .   $5,000.00 


Sold  Joseph  Hicks  on  %,  10  bbls.  rye  flour,  @  $6.00  ;  40  bbls. 
St.  Louis  extra  flour,  @  $8.00 ;  100  bu.  mixed  corn,  fa)  $1.00. 
Paid  ciisli  for  set  hooks  and  sundries,  $31.28. 

June  3.  — Sold  H.  E.  Tucker,  on  hia  note  at  10  days,  40  bbls. 
choice  extra  flour,  fa)  $11.00;  20  bbls.  Western  superfine  flour, 
fa)  $7.00;  20  l)bls.  Western  extra  flour,  (a)  $8.00;  100  bu.  wheat, 
(a)  $1.80.  Paid  Jasper  Goodwin  in  full  for  note  of  Henry  Sears, 
$260. 


SINGLE   ENTRr 


811 


June  4. — Bought  of  George  T.  Crawford  on  %,  100  bbls 
St.  Louis  extra  flour,  (a)  $7.00  ;  lt)0  bbls.  Western  superfine  flour, 
(a)  $6.00 ;  100  bbls.  Western  extra  flour,  (a)  $7.00 ;  100  bbls.  rye 
flour,  @  $5.00.  Paid  Henry  Sears  cash  on  private  account,  $30.00. 
June  5.  —  Sold  T.  H.  Wood  on  %,  50  bbls.  medium  St.  Louis 
flour,  @  $10.00;  10  bbls.  choice  extra  flour,  @  $11.00;  30  bbls. 
fancy  Minnesota  flour,  @  $12.00.  W.  B.  Hazleton  has  paid  cash 
on  %,  $136.00. 

June  7.  —  Sold  James  M.  George  for  cash  100  bu.  yellow  corn, 
(S  $1-00  ;  100  bu.  oats  @  80^  ;  10  bbls.  rye  flour,  @  $6.00.  Bought 
of  Cyrus  Taylor  for  cash,  400  bu.  oats,  @  70^;  100  bbls.  best 
Minnesota  flour,  @  $10.75.  Paid  Henry  Sears  on  private  account 
$14.00. 

^Tune  8.  — Sold  J.  G.  Wright  on  %,  100  bu.  oats,  (a)  75^  ;  100 
bu.  mixed  corn,  @  $1.00 ;  100  bu.  barley,  @  $2.00. 

June  9.  — Sold  Warren  P.  Loud  on  his  note  at  10  days,  40  bbls. 
corn  meal,  @  $5.00 ;  100  bu.  wheat,  @  $1.75  ;  4  tons  shorts,  (§>; 
$35.00. 

JuneW. — Bought  of  Wesley,  Colby,  &  Co.  on  %,  100  bu. 
white  wheat,  ^$1.60;  100  bu.  barley,  @  $1.72;  50  bbls.  corn 
meal,  %  $4.00.  Paid  Charles  Brewer  on  private  account,  $28.00. 
June  12. —  Sold  Joseph  Hicks  on  %,  200  bu.  mixed  corn,  (w 
$1.00  ;  100  bu.  yellow  corn,  $1.05  ;  50  bu.  rye,  $1.40  ;  2  tons  fine 
feed,  (a)  $40  ;  5  tons  middlings,  (a)  $40.  Paid  George  T.  Crawford 
cash  on  %,  $500.  Received  cash  on  %,  of  T.  H.  Wood,  $1,000. 
June  14.  —  Sold  Wm.  P.  Ladd  for  cash,  50  bbls.  St.  Louis  ex. 
flour,  @  $8.00  ;  50  bbls.  Western  superfine,  @  $7.00  ;  50  bbls.  rye 
flour,  @  $6.00  ;  50  bbls.  best  Minnesota  flour,  @  $11.00  ;  50  bbls. 
corn  meal,  (a)  $4.50.  * 

June  16.  — Sold  J.  G.  Wright  on  %,  100  bu.  oats,  @  75^;  50 
bu.  barley,  @  $2.00 ;  4  tons  shorts,  @  $30.00 ;  4  tons  fine  feed, 
(a  $35.00 ;  5  tons  middling,  @  $40.00.  Joseph  Hicks  has  paid 
cash  on  %,  $500.  H.  E.  Tucker  has  paid  his  note  of  the  3d 
inst.,»due  this  day,  $920.     Paid  insurance,  $31.00. 

June  19.— Sold  James  Miller  on  %,  50  bu.  r^^e,  @  $1.50;  2 
tons  shorts,  (a  $30.00 ;  4  tons  fine  feed,  @  $35.00.  Sold  W-  B. 
Hazleton  for  cash  100  bii.  white  wheat,  @  $1.75. 

June  21.  — Paid  Geo.  T.  Crawford  cash  on  %,  $1,000.  Paid 
Wesley,  Colby,  &  Co.  cash  on  %,.  S500.0C 


fe 


90 


BOOK-KEEP/NG. 


11  i' 


June  22.  —  Bought  of  Jones  &  Greeley  on  %,  200  bbls.  corn 
meal,  @  $4.00  ;  100  bu.  rye,  (aj  $1.10  ;  10  tons  shorts,  @  $25.00  ; 
10  tons  fine  feed,  @  $30.00 ;  10  tons  middling,  la)  $35.00.  Paid 
Charles  Brewer  on  private  account,  $11.50.  Warren  P.  Loud  has 
paid  his  note  of  the  9th  inst.,  $515.00. 

June  23.  —  Sold  W.  B.  Hazleton  on  %,  50  bbls.  St.  Louis  ex. 
rtour,  fa)  $8.00 ;  50  bbls.  Western  superfine,  (o)  $7.00 ;  100  bbls. 
Western  extra  flour,  (a^  $7.25  ;  40  bbls.  rye  flour,  fd)  $6.00. 

June  24.  —  Paid  Geo.  T.  Crawford  cash  on  %,  $1,000.  J.  G. 
Wright  has  paid  us  cash  on  %,  $600.00. 

June  26.  —  Sold  James  Miller  on  his  note  at  60  days,  50  bbls. 
best  Minnesota  flour,  @  $11.00;  200  bu.  oats,  @  75^*;  50  bu. 
barley,  fa)  $2.00. 

June  28.— Bought  of  Cjtus  Taylor  on  %,  100  bbls.  Baltimore 
flour,  @  $9.00 ;  100  bbls.  Michigan  flour,  @  $8.00 ;  100  bbls. 
Ohio  flour,  @  $8.25  ;  100  bbls.  Canada  flour,  fa)  $8.25  ;  100  bbls. 
Richmond  flour,  @  $8.00. 

Jwne  29.  — Received  cash  of  Joseph  Hicks,  $500.00.  Paid 
Jones  &  Greeley,  cash,  $1,500.00. 

June  30.  —  Paid  for  drayage,  $61 .50.  Paid  for  freight,  $238.00. 
Paid  for  clerk-hire,  &c.,  116.00.  Sold  Joseph  Hicks  on  %,  10 
bbls.  Michigan  flour,  @  $9.00  ;  10.  bbls.  Richmond  flour.  On 
$9.00;  50  bbls.  corn  meal,  @  $5.00.  Received  cash  of  W.  B. 
Hazleton  to  balance  %,  $1,715.00. 

June  30.  — Took  account  of  merchandise  on  hand.  Amount  of 
inventory,  $5,600.00. 


11 


■  '  ■' 


I  m 


Dr. 

Balance 

Account. 

( 

Or. 

1875. 

187.'5. 

June  30 

To  M.lse. 

5.600 

00 

J  line  30 

Bv  Wesley,  Colbv.&Co. 

32 

00 

"  Cash 

3.262 

72 

••  floiies  &  Greeley 

310 

00 

*•  store 

4,0(M) 

(M) 

'*  Cyrus  Tavlor 

4,1.50 

fH» 

'*  T.  H.  Wootl 

3fM> 

(K> 

"  C.  B.,  net  rapitfil 

5,240 

61 

"  .lames  Miller 

175 

(N) 

"  H.  S..     • 

5,23*) 

11 

"  J  G  Wriuht 

170 

(M) 

"  .foseph  Hirk^ 

56.^ 

00 

*'  Jag.  Millfi-'s  note, 

WM* 

00 

14.fr>« 

72 

14.!lf.8 

72 

J 


SINGLE   ENTRY, 


91 


PROOF-SHEET. 

Dr. 

Cr. 

Charles  Brewer $5,000.00 

$()()0.00 

Henry  Sears 

5,600.00 

1,396.00 

T.  H.  Wood 

1,000.00 

136.00 

W.  B.  Hazelton 

136.00 

1,715.00 

W.  B.  Hazelton 

1,715.00 

275.00 

James  Miller 

100.00 

1,010.00 

J.  G.  Wright      . 

840.00 

1,565.00 

Joseph  Hicks     . 

1,000.00 

2,500.00 

Geo.  T.  Crawford 

2,500.00 

500.00 

Wesley,  Colby,  &  Co. 

532.00 

1,5CK).00 

Jones  &  Greeley 
Cyrus  Taylor     . 

1,810.00 
4,150.00 

39.50 

Charles  Brewer  (prival(3  %  ). 

44.00 

Henry  Sears  (private  %). 

$11,280.50  Total  debit*. 

11,280.50 

24,383.00 

24,;^3.00     "      credits. 

• 

$35,663.50  Total  debits  and  credits 
*35,663.50     "      footing  of  day-book. 


1'^ 


i 


I'S  %  I'lS' 


I   |:# 


book-kj:eping. 


NOTES,   DRAFTS,   ETC. 

A  promissory  note  is  a  written  contract,  and  is  subject  to  special 
laws  governing  contracts  of  this  kind.  To  constitute  a  promissory 
note  certain  things  are  requisite. 

1.  There  must  be  two  parties, —the  maker  or  makers,  and  the 
payee  or  payees.  The  maker  is  the  i)Mrty  wiio  promises  to  i)ay. 
The  payee  is  the  party  to  whom  the  amount  specified  is  to  be  iiaid. 

2.  The  time  of  maturity  must  l)e  definite  and  certain  ;  the  [)ay- 
ment  must  not  depend  upon  any  uncertain  event. 

3.  The  note  must  be  payable  in  money,  and  the  amount  should 
be  definitely  stated.  When  there  is  a  discrepancy  between  the 
figures  and  the  written  words,  the  words  govern. 

4.  To  be  negotiable,  —  that  is,  transferable  by  delivery,  with  all 
the  legal  rights  enjoyed  by  the  original  payee,  —  it  must  contain 
certain  words  showing  that  it  is  payable  to  bearer,  or  to  the  order 
of  the  payee. 

5.  It  must  be  given  for  a  consideration,  valuable  in  the  eyes  of 
the  law.  Consideration,  if  not  expressed,  is  always  implied. 
Hence  the  words  ''value  received,"  though  usually  inserted,  are 

not  essential. 

A  Bill  of  Exchange  or  Drajt  is  an  order,  to  the  person  to  whom 
it  is  directed,  to  pay  the  amount  of  money  specified  to  the  order  of 
the  person  named  as  payee  either  at  sight  or  at  a  certain  time 
after  sight  or  date. 

What  has  been  said  of  the  essentials  and  requisites  of  a  promis- 
sory note  is  equally  true  of  bills  of  exchange  and  drafts.  The 
original  parties  to  a  draft  are  three,  —  the  drawer,  payee,  and 
drawee  or  acceptor.  The  drawee  is  the  party  on  whom  the  drnft 
is  drawn, —the  party  who  is  ordered  to  pay  the  sum  specified. 
When  presented  for  payment,  the  drawee  writes  '^  Accepted,"  to- 
gether with  his  name  and  the  date,  across  tlie  face  of  the  draft. 
He  is  then  called  the  acceptor,  and  becomes  the  priri(i[ial  debtor. 
His  liability  corresponds  to  that  of  the  maker  of  a  note.  The 
drawer  is  the  party  who  draws  the  draft.  His  liability  is  similar 
to  that  of  the  indorser  of  a  note.  The  payee  is  tlie  piirty  to  whom 
payment  is  to  Ijc  made. 


NOTES,    DRAFTS,    ETC. 


INDORSEMENT. 


93 


If  a  note  or  draft  is  payable  to  bearer,  it  can  be  transferred 
without  indorsement ;  but,  if  it  is  made  payable  to  the  order  of  the 
payee,  then  the  payee  must  write  his  name  on  the  back.  This 
is  called  indorsement  in  blank.  The  note  or  bill  then  becomes 
payable  to  bearer ;  but  the  payee  may  make  it  payable  to  the  order 
of  some  other  party  by  writing  on  the  back,  ''  Pay  to  the  order  of 
A.  B.,"  and  writing  his  name  underneath.  A.  B.  then  becomes 
the  indorsee,  and  may,  in  a  similar  manner,  transfer  the  note  or 
bill  to  another  party,  and  so  on  indefinitely.  This  form  is  called 
*'  indorsement  in  full." 

Indorsement  renders  the  indorsee  liable  for  the  payment,  if  the 
original  payer  fails  to  pay  at  maturity.  If  the  indorser  wishes  to 
avoid  liability,  he  may  write  ''  Without  recourse  "  over  his  name. 

DAYS    OF    GRACE. 

In  most  States  three  days  are  allowed  the  maker  or  acceptor  to 
make  payment  after  the  time  specified  expires.  These  are  called 
days  of  grace. 

PRESENTMENT    FOR   PAYMENT. 

Demand  of  payment  at  maturity  is  not  necessary  to  hold  the 
maker  of  a  note  or  the  acceptor  of  a  draft,  because  they  are  the 
original  parties ;  but  it  is  necessary  that  demand  should  be  made 
of  the  payer  in  order  to  hold  the  indorsers. 

DISHONOR   OF   A   NOTE   OR  BILL. 

Refusal  to  pay  when  demand  has  been  properly  made  is  termed 
the  dishonor  of  the  note  or  bill.  Notice  of  the  dishonor  should  be 
given  hnmediately  to  the  indorsers,  in  order  to  hold  them  respon- 
sible for  the  payment. 

CHECK. 

A  check  is  an  order  on  a  bank  or  banker  to  pay  the  sum  specified. 
A  check  requires  no  acceptance,  because  a  banker  is  bound  to  pay 
the  check  of  his  depositors,  if  He  has  so  much  of  their  money  in 
his  hands. 

FORMS. 

Some  common  fonns  of  notes,  drafti,  checks,  etc.,  are  sub- 
joined, which  will  be  readily  understood  without  further  definition 
or  explanation. 


^\ 


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■■  IE  Bi 


i'fti 


ii 


94 


BOOK-KEEPING. 


Note  —  Imlividunl —  Time. 
^^^<^-  S^o^^on,    .JL>^.^  ^y    /^     /^^/ 

<W4  oi  oie/ei,    one  Auni/iei/  c^/dkid,  t^/ue  iecetvee/. 


(Back  of  the  Note  when  paid.) 


\ 


J 


^ 

^ 


^ 


■^  Ns  ;^ 


sS.       v^^ 


Si 


X 


I 


Is 


I! 


Note  —  Joint  —  Demand. 

oi    aM,    one    dundej  ^men^y-^ve  /j'^  Jo//aU,    vaii.e 
iecei^m^/.  cj/  ^  c># 

Note  —  Chattel  —  Not  Negotiable. 

/and  ^mo    dunoAec/  one/ /piy    €/o//€x44  en    dem/ocd 
^aicd,    «/  ^en  €^//aU  /iH  tJ^.,    c/edk^eiec/  a^  ^Udtc/, 


mmtti 


NOTES,   DRAFTS,   ETC. 


«7v 


Note  —  Joint  and  Several — Interest. 

sf^jjoo-  Mj^n,  c^ajj.^  ^/y  /:  /m. 

^a/ue  iecee'iAea^  f^^e  gotn/^  ana  de^i/eia/Zu  Aiomede 
^  ^ay  ^dn  3ma7zd,  oi  oic/ei,  :ie^y-^di.ee  /^  cd^//aid^ 
6^y  aayd  c^l  aa^e^    liAtYd  e^^eied^. 

Note  —  Collateral  —  Witnessed. 

c>7ii^^  aayd  jdom  c/a/e,  ^e  ^bcn^^  anc/  jeveia//u 
^iome'^e  ^o  ^y  de  'WcUif  ^a^^ona/  ^o//eae  (^ajid 
ojf  tJTew^  t^am^n^  oi  ou/ei^  ^en  dunc/iec/  c/o//aid, 
'i^/ue  iececvee/y  anc/^  ad  decuie^  y^  ^e  AayTnen^  ^ 
me  dame,  i^e  dat/e  e/i^wdii^ec/  deietM;^  a  cei^^ca^e  c/ 
deven^een  ddaiej  (^  d^cd  ^n  Me  (^od^o7i  anc/  t^/acne 
t^ai/ioaa^  dtancdna  en  oai  name  on  Me  ^dd  c/ date/ 
ct^^iany,  ^^^  auMoUYy  ^o  de//  Me  dame  a^  Au^/e'c  oi 
Mcva^e  da/e,  Aiom'c/ec/ Med  9^^e^  ij^  <tio^ /iae'c/ a4.  ma^^U^u. 


•   1*1 


TA 


I         I 


'%o^n. 


»    '  • t     •  », 


I   » 


Draft —  Time. 

oW  dchpify    c/ayd '  dcyd/j  j/mu    fo    Me    ole/ei   ^    %d/i 
<a9zd  Miee    deincdec/  f/o//aid,     va/e^e    Ucefvec/,    anc/ 


cdai^ye  /o  Me  acot.  ^  %,med   tS^n-uMi^    / 


96 


BOOK-KEEPING. 


il 


I'' 


;! 


Draft  —  Sight  —  Bearer. 


€/o//ei44,    va^  iece^t^e^^  ane/  cAt 


€iiae  <f^  acc^.  c/ 


^o   ^  1^    ^^Mna 


^'   ^^.    f^/edeiv. 


T 


^h«ck  ~  Sight  —  Rank-. 


tim.M  ^oston^...,J^,^Z^^  188/.  I 

Paj^  to  the  order  of. ^^...%^-...^€iMu 

-^?^.-^.^<^ dollars 


^o.  /.4^. 


2S 

loo' 


'M^...!^,.^/a//€i€m. 


Order  for  Merchandise. 


^€1A3 


Z-^^^- 


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m 


I 


■iiiiiai 


COLUMBIA  UNIVERSITY  LIBRARIES 


0044257937 


EH 


MAR  2  41994 


/^SH  06^^^ 


>iPfi  J.  a  ibo: 


mi 


-» 

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END  OF 
TITLE 


